https://www.taxtmi.com/caselaws?id=175581 The court held that the surplus from the sale of a plot constituted profit in an adventure in the nature of trade. The transaction by the assessee-company was deemed a business venture rather than a mere investment, based on profit-making motives, lack of evidence of building construction, and quick sale. The court found that the department sufficiently discharged the onus of proof, considered facts from lower authorities, and rejected claims of conjectures in the Tribunal's order. The court ruled in favor of the respondent, directing the assessee to pay costs. en-us Thu, 13 May 1965 00:00:00 +0530 Fri, 27 Nov 2015 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175581 The court held that the surplus from the sale of a plot constituted profit in an adventure in the nature of trade. The transaction by the assessee-company was deemed a business venture rather than a mere investment, based on profit-making motives, lack of evidence of building construction, and quick sale. The court found that the department sufficiently discharged the onus of proof, considered facts from lower authorities, and rejected claims of conjectures in the Tribunal's order. The court ruled in favor of the respondent, directing the assessee to pay costs. Case-Laws Income Tax Thu, 13 May 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175581