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1983 (11) TMI 58 - KARNATAKA HIGH COURT
Extract:
.......ds as an investment. They dealt with the lands as their stock-in-trade. We are, therefore, unable to uphold the view taken by the Tribunal. In the result, and for the reasons stated above record our answer as follows The surplus income arising out of the, sale of sites is assessable as income from business and not as a realisation of capital gains.