https://www.taxtmi.com/article/detailed?id=1059 The tax characterisation of profits depends on whether transactions in assets constitute an adventure in the nature of trade-a factual inquiry focused on commercial design and conduct rather than repetition. Single transactions may qualify where pre-purchase design, consolidation, lack of intention to hold for returns, or relationship to an intended purchaser demonstrate a plan to sell for profit. Similar reasoning extends to an adventure in the nature of commerce, whereby recurring receipts are taxed under their proper heads as business income and holding costs may be allowable if the activity amounts to business. en-us Thu, 16 Dec 2010 22:52:12 +0530 Thu, 16 Dec 2010 22:52:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1059 The tax characterisation of profits depends on whether transactions in assets constitute an adventure in the nature of trade-a factual inquiry focused on commercial design and conduct rather than repetition. Single transactions may qualify where pre-purchase design, consolidation, lack of intention to hold for returns, or relationship to an intended purchaser demonstrate a plan to sell for profit. Similar reasoning extends to an adventure in the nature of commerce, whereby recurring receipts are taxed under their proper heads as business income and holding costs may be allowable if the activity amounts to business. Articles Income Tax Thu, 16 Dec 2010 22:52:12 +0530 https://www.taxtmi.com/article/detailed?id=1059