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<h1>Land sale profits not taxable as trade profit. Allahabad HC ruling.</h1> <h3>Commissioner of Income-Tax Versus Shashi Kumar Agrawal</h3> Commissioner of Income-Tax Versus Shashi Kumar Agrawal - TMI The Allahabad High Court ruled that profit from the sale of plots after plotting them out to secure a better price cannot be taxed as profit from an adventure in the nature of trade. The court answered the question in the negative and disposed of the reference, with each party bearing their own costs.