Section 28(i) & 45 of the Income-tax Act, 1961—Nature of Income - Business income or income from capital gains —Assessee is into the business of acquiring and sale of plot and colonizers and having acquired the land as stock-in-trade, the land continued to be held for business purpose and continued to be shown as closing stock for all the years, hence, on going through the Memorandum and Articles of Association, conduct and business affairs of the assessee, and on perusal of the books of accounts of the assessee, it cannot to be said to be an income arising out of capital gains and has been rightly treated as business income - KOHLI ESTATES (P.) LTD. V/s ITO - [2020] 183 ITD 650 (ITAT-DELHI)