https://www.taxtmi.com/caselaws?id=59115 The Tribunal partly allowed the appeal by determining that the surplus from compensation and sale proceeds should be treated as capital gains, not business income. The matter was remanded to the Income Tax Officer for computation. However, the Tribunal upheld the treatment of ground rent as income from other sources, disallowance under section 40A(8) for interest on unsecured loans, and the treatment of loss from race horse breeding as a capital loss. en-us Wed, 10 Oct 1984 00:00:00 +0530 Sun, 06 Feb 2011 03:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59115 The Tribunal partly allowed the appeal by determining that the surplus from compensation and sale proceeds should be treated as capital gains, not business income. The matter was remanded to the Income Tax Officer for computation. However, the Tribunal upheld the treatment of ground rent as income from other sources, disallowance under section 40A(8) for interest on unsecured loans, and the treatment of loss from race horse breeding as a capital loss. Case-Laws Income Tax Wed, 10 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59115