https://www.taxtmi.com/caselaws?id=5395 Land purchased, quickly plotted and resold within a few months was treated as yielding business income because the surrounding circumstances showed an intention to resell rather than to hold as a genuine investment. The fact-finding authorities' view in favour of the assessees was based on assumptions not adequately supported by the record. On those facts, the profits were correctly characterised as arising from an adventure in the nature of trade, and the Revenue's position was upheld. en-us Thu, 18 Feb 1993 00:00:00 +0530 Thu, 11 Dec 2025 22:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5395 Land purchased, quickly plotted and resold within a few months was treated as yielding business income because the surrounding circumstances showed an intention to resell rather than to hold as a genuine investment. The fact-finding authorities' view in favour of the assessees was based on assumptions not adequately supported by the record. On those facts, the profits were correctly characterised as arising from an adventure in the nature of trade, and the Revenue's position was upheld. Case-Laws Income Tax Thu, 18 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5395