https://www.taxtmi.com/caselaws?id=21106 Income from sale of plots to outsiders was treated as capital gains because the society was formed for refugee rehabilitation, the land had been allotted for distribution among members, and the plots sold did not become stock-in-trade. The Tribunal accepted that there was no profit motive from the outset, and the Revenue failed to show an intention to trade at the time of acquisition. A cited precedent on intention at purchase supported that approach, particularly where the sale took place many years after the land was acquired. No question of law arose from these findings, and the Tribunal's view remained undisturbed. en-us Thu, 20 Aug 1992 00:00:00 +0530 Fri, 20 Nov 2009 11:00:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21106 Income from sale of plots to outsiders was treated as capital gains because the society was formed for refugee rehabilitation, the land had been allotted for distribution among members, and the plots sold did not become stock-in-trade. The Tribunal accepted that there was no profit motive from the outset, and the Revenue failed to show an intention to trade at the time of acquisition. A cited precedent on intention at purchase supported that approach, particularly where the sale took place many years after the land was acquired. No question of law arose from these findings, and the Tribunal's view remained undisturbed. Case-Laws Income Tax Thu, 20 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21106