https://www.taxtmi.com/caselaws?id=67264 The Tribunal determined that the income from the sale of developed plots inherited and later compulsorily acquired should be taxed as capital gains, not as profit from trade. The transaction did not meet the criteria for an adventure in the nature of trade due to the absence of a voluntary purchase element. The Assessing Officer was directed to estimate the sale price of specific plots uniformly, dismissing the Revenue's appeal and partly allowing the assessee's cross objection. en-us Wed, 26 Nov 1997 00:00:00 +0530 Wed, 09 Mar 2011 17:59:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67264 The Tribunal determined that the income from the sale of developed plots inherited and later compulsorily acquired should be taxed as capital gains, not as profit from trade. The transaction did not meet the criteria for an adventure in the nature of trade due to the absence of a voluntary purchase element. The Assessing Officer was directed to estimate the sale price of specific plots uniformly, dismissing the Revenue's appeal and partly allowing the assessee's cross objection. Case-Laws Income Tax Wed, 26 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67264