https://www.taxtmi.com/caselaws?id=5081 Whether the purchase and resale of the Brengun Factory site and buildings amounted to an adventure in the nature of trade depended on the totality of the surrounding facts, not on any single conclusive test. Relevant indicators included the nature of the asset, the manner of acquisition and disposal, financing through borrowings and pledges, short holding period, and the commercial pattern of sales to related industrial concerns. On those facts, the transaction was a planned profit-making scheme rather than a permanent investment, so the surplus on resale was taxable as business income. en-us Fri, 24 Nov 1967 00:00:00 +0530 Wed, 19 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5081 Whether the purchase and resale of the Brengun Factory site and buildings amounted to an adventure in the nature of trade depended on the totality of the surrounding facts, not on any single conclusive test. Relevant indicators included the nature of the asset, the manner of acquisition and disposal, financing through borrowings and pledges, short holding period, and the commercial pattern of sales to related industrial concerns. On those facts, the transaction was a planned profit-making scheme rather than a permanent investment, so the surplus on resale was taxable as business income. Case-Laws Income Tax Fri, 24 Nov 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5081