Sec. 45 of the Income-tax Act, 1961 - Capital gain - Being aggrieved of the order of Tribunal, Revenue went on appeal before High Court and raised the question of law that "Whether on the facts and in the circumstance of the case and in law, the Tribunal was justified in treating the income received of Rs. 69 crores assessable on sale of Non agricultural land as Long Term Capital Gain instead of Business income ignoring the business aspirations of the assessee?". High Court dismissed the appeal of the revenue holding that “It is always open to an assessee to hold the same class of assets as investment and also as stock-in-trade; there is no bar in law for a person dealing in land to also have investment in land, thus, Tribunal was justified in treating the income received of Rs. 69 crores assessable on sale of Non agricultural land as Long Term Capital Gain”. SLP of revenue also dismissed. - PR. CIT V/s JOGANI AND DIALANI LAND DEVELOPERS & BUILDERS - [2020] 272 TAXMAN 111 (SC)