Assessee sold a land and invested sale consideration for purchasing several small properties and resold certain properties for reason that he was not expecting much gain from said properties due to certain disputes/non preferred location etc. of these properties, however, rest of properties were retained by assessee for long term. Assessee has shown the gain as long term capital gains.  AO assessed it as business income.  Tribunal held that merely because assessee after sale of large chunk of land purchased many small properties and further sold some properties due to certain reasons, that itself, was not sufficient to hold that assessee was doing regular business in sale and purchase of immovable property. Accordingly  assessable as capital gains.  (AY. 2009-10)