https://www.taxtmi.com/caselaws?id=8388 The High Court held that the excess price realized by the assessee from the sale of two plots in Defence Colony was not considered profit from an adventure in the nature of trade. The Court emphasized that the primary business of the assessee was not land investment, and the sale was driven by a financial commitment, not an intention to engage in trade. The Court distinguished this case from others, concluding that the sales were not adventures in the nature of trade. en-us Thu, 19 Aug 1971 00:00:00 +0530 Fri, 10 Apr 2009 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8388 The High Court held that the excess price realized by the assessee from the sale of two plots in Defence Colony was not considered profit from an adventure in the nature of trade. The Court emphasized that the primary business of the assessee was not land investment, and the sale was driven by a financial commitment, not an intention to engage in trade. The Court distinguished this case from others, concluding that the sales were not adventures in the nature of trade. Case-Laws Income Tax Thu, 19 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8388