https://www.taxtmi.com/caselaws?id=788250 Whether a land sale is business income or short term capital gain turns on evidence of actual trading activity, not ledger classification; without demonstrable trading turnover and with unexplained items/unsecured loans, the sale was treated as short term capital gain and business loss disallowed. Where section 50C issues arise and agreement date differs from registration date, the jantri value must be adopted as on the agreement/banakhat date for computing full value of consideration, and the assessing officer may refer the matter to the Valuation Officer if necessary; computation on this limited point is remitted to the AO. en-us Thu, 05 Feb 2026 00:00:00 +0530 Thu, 19 Mar 2026 08:59:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788250 Whether a land sale is business income or short term capital gain turns on evidence of actual trading activity, not ledger classification; without demonstrable trading turnover and with unexplained items/unsecured loans, the sale was treated as short term capital gain and business loss disallowed. Where section 50C issues arise and agreement date differs from registration date, the jantri value must be adopted as on the agreement/banakhat date for computing full value of consideration, and the assessing officer may refer the matter to the Valuation Officer if necessary; computation on this limited point is remitted to the AO. Case-Laws Income Tax Thu, 05 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788250