https://www.taxtmi.com/caselaws?id=470739 Profit from sale of a real-estate developer's building is treated as capital gains where the property was consistently recorded as an investment, interest on acquisition borrowings was capitalised, and the overall facts support investment character. Treatment of rental receipts as business income alone does not convert the property into stock-in-trade. The resulting gain may qualify for deduction under Section 54EC where the applicable conditions are met. The decisive test is the taxpayer's consistent treatment of the immovable property and the surrounding circumstances. en-us Tue, 31 Jul 2018 00:00:00 +0530 Thu, 06 Aug 2026 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470739 Profit from sale of a real-estate developer's building is treated as capital gains where the property was consistently recorded as an investment, interest on acquisition borrowings was capitalised, and the overall facts support investment character. Treatment of rental receipts as business income alone does not convert the property into stock-in-trade. The resulting gain may qualify for deduction under Section 54EC where the applicable conditions are met. The decisive test is the taxpayer's consistent treatment of the immovable property and the surrounding circumstances. Case-Laws Income Tax Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470739