2017 (10) TMI 383

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....And Biswajit Mohanty, JJ. For the Appellant : M/s. Sanjeev Udgata P.K.Nayak & S.Udgata. For the Respondents : Mr. S.K.Acharya (Sr. Standing Counsel for Income Tax Department) ORDER I. Mahanty, J. In the present batch of appeal, challenges have been made to the orders dated 17.6.2004, 28.6.2005 & 6.9.2006 passed by the Income Tax Appellate Tribunal, Cuttack Bench, Cuttack in ITA No.3....

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.... the assessee-builder engaged another builder, namely, M/s.Karani Builder to do the needful. Therefore, the Assessing Officer considered the profit of such sale as "business income" and not as "capital gain". From the impugned orders, it appears that the land had been purchased by the assessee in course of his real estate business and after purchasing the said land within a period of about six mon....