https://www.taxtmi.com/caselaws?id=288980 A profit from purchase and realisation of a share in a mortgage decree is treated as business income where the asset is acquired for profit-making and exploited through a calculated, business-like course of conduct. The transaction is not a mere investment or casual receipt if the asset can only be turned to account by realisation and the dominant intention at acquisition is profit. Even an isolated venture may amount to an adventure in the nature of trade. On that footing, the casual and non-recurring receipt exemption under section 4(3)(vii) of the Indian Income-tax Act, 1922 does not apply. en-us Fri, 27 Sep 1963 00:00:00 +0530 Wed, 08 Jul 2020 17:09:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288980 A profit from purchase and realisation of a share in a mortgage decree is treated as business income where the asset is acquired for profit-making and exploited through a calculated, business-like course of conduct. The transaction is not a mere investment or casual receipt if the asset can only be turned to account by realisation and the dominant intention at acquisition is profit. Even an isolated venture may amount to an adventure in the nature of trade. On that footing, the casual and non-recurring receipt exemption under section 4(3)(vii) of the Indian Income-tax Act, 1922 does not apply. Case-Laws Income Tax Fri, 27 Sep 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288980