https://www.taxtmi.com/caselaws?id=56257 The Tribunal ruled in favor of the appellant, holding that the profit from the property sale should be taxed as capital gains rather than business income. The Tribunal found that the Revenue failed to establish that the property was purchased with the intention of resale or that the appellant engaged in property dealing activities. The appellant's consistent treatment of properties as investments and the absence of evidence supporting the Revenue's claims led to the decision in favor of the appellant. en-us Thu, 13 Nov 1980 00:00:00 +0530 Thu, 02 Dec 2010 17:02:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56257 The Tribunal ruled in favor of the appellant, holding that the profit from the property sale should be taxed as capital gains rather than business income. The Tribunal found that the Revenue failed to establish that the property was purchased with the intention of resale or that the appellant engaged in property dealing activities. The appellant's consistent treatment of properties as investments and the absence of evidence supporting the Revenue's claims led to the decision in favor of the appellant. Case-Laws Income Tax Thu, 13 Nov 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56257