https://www.taxtmi.com/caselaws?id=58064 The Appellate Tribunal upheld the decision classifying the surplus from the sale of land as capital gains rather than business profits. They considered the company's consistent treatment of the land as a capital asset, its initial purpose of constructing staff quarters, and the financial challenges faced. Emphasizing the real nature of the operation and citing relevant case law, the Tribunal dismissed the appeal and supported the Commissioner (Appeals)'s determination. en-us Fri, 12 Jun 1981 00:00:00 +0530 Fri, 17 Dec 2010 11:39:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58064 The Appellate Tribunal upheld the decision classifying the surplus from the sale of land as capital gains rather than business profits. They considered the company's consistent treatment of the land as a capital asset, its initial purpose of constructing staff quarters, and the financial challenges faced. Emphasizing the real nature of the operation and citing relevant case law, the Tribunal dismissed the appeal and supported the Commissioner (Appeals)'s determination. Case-Laws Income Tax Fri, 12 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58064