https://www.taxtmi.com/caselaws?id=22885 The Court upheld the Income-tax Officer's decision to treat certain sums as profit from an adventure in the nature of trade, following the precedent set in a previous case. The advocate firm representing the assessee was discharged due to lack of instructions, with the assessee being aware of the hearing but choosing to remain absent. The Court ruled in favor of the Revenue, considering the amounts in question as assessable income and profit from an adventure in the nature of trade, in line with the earlier judgment. en-us Fri, 18 Nov 1988 00:00:00 +0530 Tue, 15 Dec 2009 11:33:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22885 The Court upheld the Income-tax Officer's decision to treat certain sums as profit from an adventure in the nature of trade, following the precedent set in a previous case. The advocate firm representing the assessee was discharged due to lack of instructions, with the assessee being aware of the hearing but choosing to remain absent. The Court ruled in favor of the Revenue, considering the amounts in question as assessable income and profit from an adventure in the nature of trade, in line with the earlier judgment. Case-Laws Income Tax Fri, 18 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22885