High Court of Bombay Considers Revenue's Appeal Against ITAT's Classification of Flat Sale Proceeds as Capital Gains. The core issue is whether sale of flats by a real estate developer constitutes business income or capital gains under the Income Tax Act, 1961, after the Assessing Officer had treated it as business income.
4 Aug 2026The appeal before the High Court of Bombay arose from an order of the Income Tax Appellate Tribunal (ITAT) which had held that the proceeds from the s...
