https://www.taxtmi.com/caselaws?id=779458 ITAT affirmed CIT(A)'s finding that profits from sale of land were capital gains, not business income. The Assessing Officer's characterization of the transactions as adventure in the nature of trade was overturned because the properties were sold after a considerable period and prior ITAT decisions in the assessee's own cases established no intention to trade in land. The appeal by revenue was dismissed and the AO was directed to assess the surplus under the head "capital gain." en-us Fri, 26 Sep 2025 00:00:00 +0530 Mon, 06 Oct 2025 09:11:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779458 ITAT affirmed CIT(A)'s finding that profits from sale of land were capital gains, not business income. The Assessing Officer's characterization of the transactions as adventure in the nature of trade was overturned because the properties were sold after a considerable period and prior ITAT decisions in the assessee's own cases established no intention to trade in land. The appeal by revenue was dismissed and the AO was directed to assess the surplus under the head "capital gain." Case-Laws Income Tax Fri, 26 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779458