https://www.taxtmi.com/article/detailed?id=1243 The article assesses receipts from a politician's sale of paintings and concludes that recent, organised production, active marketing, exhibitions, and declared fundraising transform the activity into a professional/business pursuit. While older or zero cost items might be argued as capital receipts where cost cannot be computed, the dominant factual matrix-repeated sales, high prices due to political prominence, and systematic monetisation-supports characterising proceeds as taxable income from profession or business rather than non taxable capital gains. en-us Sun, 10 Apr 2011 22:15:18 +0530 Sat, 14 Sep 2013 23:05:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1243 The article assesses receipts from a politician's sale of paintings and concludes that recent, organised production, active marketing, exhibitions, and declared fundraising transform the activity into a professional/business pursuit. While older or zero cost items might be argued as capital receipts where cost cannot be computed, the dominant factual matrix-repeated sales, high prices due to political prominence, and systematic monetisation-supports characterising proceeds as taxable income from profession or business rather than non taxable capital gains. Articles Income Tax Sun, 10 Apr 2011 22:15:18 +0530 https://www.taxtmi.com/article/detailed?id=1243