Sale property

Sir..In my opinion...your sale seems to fall in the form of advemture in the nature of trade. Hence will be liable for tax under Business Income.
However u can claim capital gain indexing benefit by converting the capital asset in to stock in trade.In such case, part of the income be capital gain and part under business head.

Please advice, what is the nature of your business, are you into construction. on the open plot, will you be building a residential complex and sell it to prospective buyers.
please be specific while posting your query

Sir building is a residential and sell it to prospective buyers

If you are in construction business, and are developing plots on it, then sale of plot will to prospective buyers will be considered as business income