https://www.taxtmi.com/caselaws?id=21968 The High Court of Allahabad determined that the surplus received from the sale of plots by a railway employee, originally received as a gift from his father and sold after minimal activity, constituted capital gain rather than income from an adventure in the nature of trade. The Court agreed with the Tribunal's findings, emphasizing the lack of significant development beyond preparing a lay out plan and the employee's constraints due to official duties. As a result, the surplus of Rs. 44,824 was deemed as capital gain, resulting in a favorable judgment for the employee against the Revenue. en-us Thu, 04 Apr 1991 00:00:00 +0530 Sat, 05 Dec 2009 11:53:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21968 The High Court of Allahabad determined that the surplus received from the sale of plots by a railway employee, originally received as a gift from his father and sold after minimal activity, constituted capital gain rather than income from an adventure in the nature of trade. The Court agreed with the Tribunal's findings, emphasizing the lack of significant development beyond preparing a lay out plan and the employee's constraints due to official duties. As a result, the surplus of Rs. 44,824 was deemed as capital gain, resulting in a favorable judgment for the employee against the Revenue. Case-Laws Income Tax Thu, 04 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21968