ACIT Vs. HOTEL KAMAL P. LTD.

JUDGEMENT

(1.) THE appeal by Revenue and cross objection by assessee are against the order of Ld. CIT(A) dated 05.02.2013. Revenue has raised following grounds in its appeal.

(2.) "The CIT(A) erred on facts and in law in holding that the sale of property by the assessee is not "adventure in the nature of trade".

(3.) THE CIT(A) erred on facts in law in holding that the asset is business asset despite that fact that the assessee never put the premises to business use and the premises was sold by him within 3 months after purchase.