https://www.taxtmi.com/caselaws?id=6413 Where the legality of deferring computation of taxable profit in an adventure in the nature of trade is challenged, the issue is a question of law and not merely one of fact. The Tribunal's view that profit from the sale of part of the land could not be ascertained until all the lands in the venture were sold made the legal method of profit computation directly relevant. The matter was therefore fit for reference to the High Court under the statutory reference provisions, and the Tribunal and High Court ought to have directed reference of the question or an appropriate question for opinion. en-us Mon, 11 Dec 1972 00:00:00 +0530 Thu, 04 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6413 Where the legality of deferring computation of taxable profit in an adventure in the nature of trade is challenged, the issue is a question of law and not merely one of fact. The Tribunal's view that profit from the sale of part of the land could not be ascertained until all the lands in the venture were sold made the legal method of profit computation directly relevant. The matter was therefore fit for reference to the High Court under the statutory reference provisions, and the Tribunal and High Court ought to have directed reference of the question or an appropriate question for opinion. Case-Laws Income Tax Mon, 11 Dec 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6413