https://www.taxtmi.com/caselaws?id=11566 Receipt and later sale of developed plots obtained in lieu of compensation for compulsorily acquired inherited agricultural land was treated as realisation of capital value rather than an adventure in the nature of trade. The character of the transaction depended on the totality of the facts, including that the land was inherited and not purchased, and that the assessee merely accepted developed plots under the acquisition scheme. Because the Tribunal's conclusion rested on factual appreciation, no referable question of law arose merely from disagreement with that inference, and the reference was not maintainable. en-us Wed, 05 Feb 2003 00:00:00 +0530 Sat, 30 Jan 2010 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11566 Receipt and later sale of developed plots obtained in lieu of compensation for compulsorily acquired inherited agricultural land was treated as realisation of capital value rather than an adventure in the nature of trade. The character of the transaction depended on the totality of the facts, including that the land was inherited and not purchased, and that the assessee merely accepted developed plots under the acquisition scheme. Because the Tribunal's conclusion rested on factual appreciation, no referable question of law arose merely from disagreement with that inference, and the reference was not maintainable. Case-Laws Income Tax Wed, 05 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11566