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2015 (7) TMI 1156 - AT - Income TaxTaxing the profit arising from sale of plots of land - "Income from Capital gains" OR "Income from Business and Profession" - CIT(A) directing the AO to tax the profit under the head "Income from Capital gains'' - Held that:- We find from the records that the assessee since inception had disclosed the purchase of lands under the head 'Investment' and the assessee had also disclosed these plots under the same head upto date of sale of plots in the balance sheet. The assessee had also shown certain stocks in land under the head 'Inventories' during the year. It proves that assessee's intention was clear at the time of acquiring these plots for the purpose of investment. Therefore, we do not find any reason to interfere in the order of ld. CIT(A) which is sustained. Thus the solitary ground of the Revenue is dismissed.
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