Assessee sold her land on 26-3-2013 which was purchased by her on 26-11-2007 and after claiming cost of selling and indexed cost of acquisition declared long-term capital loss.  Assessing Officer treated sale of land as an adventure in nature of trade and taxed same as business income on ground that assessee was director in various concerns which were engaged in real estate business. CIT(A) allowed the appeal of the assessee. On appeal the Tribunal held thatsince assessee had held land for more than five years without carrying out any developmental activity on same and revenue in preceding and succeeding assessment years had accepted treatment of assessee in claiming long-term capital gain on account of sale of land. Order of the CIT(A) is affirmed. (AY. 2013-14)