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2019 (12) TMI 211 - HC - Income TaxCapital asset u/s 2(47) - sale of land by way of Development agreement - Commissioner (Appeals) on facts has found that the subject land was treated as stock in trade by the assessee - ITAT deleted the additions - HELD THAT:- In view of the categorical finding recorded by the Commissioner (Appeals) that the assessee in all the years has treated the subject land to be stock in trade, he was wholly justified in holding that the provisions of section 2(47) of the Act relating to capital asset would not apply. The Tribunal, therefore, did not commit any error in concurring with the findings recorded by the Commissioner (Appeals). This court does not find any legal infirmity in the view adopted by the Tribunal so as to give rise to any question of law, much less, a substantial question of law, warranting interference.
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