https://www.taxtmi.com/caselaws?id=250644 Receipt of Rs. 35 lakhs under a consent decree was analysed as arising from an adventure in the nature of trade, because the agreement to purchase land, the failure to obtain possession, the vendor's dealings with a third party, and the assessee's conduct pointed to commercial intent. On that basis, the receipt was treated as business income rather than capital gains. The text also states that the matter rested on concurrent factual findings and settled legal tests, so no independent question of law was said to arise for reference. en-us Wed, 23 Jul 2014 00:00:00 +0530 Thu, 21 Aug 2014 08:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250644 Receipt of Rs. 35 lakhs under a consent decree was analysed as arising from an adventure in the nature of trade, because the agreement to purchase land, the failure to obtain possession, the vendor's dealings with a third party, and the assessee's conduct pointed to commercial intent. On that basis, the receipt was treated as business income rather than capital gains. The text also states that the matter rested on concurrent factual findings and settled legal tests, so no independent question of law was said to arise for reference. Case-Laws Income Tax Wed, 23 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250644