<h1>Rajasthan High Court: Land Sale as Capital Gains, Not Business Income for Non-Dealer Dividing Land into Plots.</h1> The Rajasthan High Court ruled that the sale of land by an assessee, who divided a purchased land into plots and sold them, should be taxed as capital gains rather than business income. The court emphasized that the land was not bought with the intention of selling it for profit and the assessee was not a regular real estate dealer. The land, purchased in 1970 and affected by land ceiling laws, was sold in plots after the legal issues were resolved. The court concluded that the transaction did not constitute an 'adventure in the nature of trade' and should be treated as a disposal of a capital asset.