https://www.taxtmi.com/caselaws?id=26040 The court determined that profits from the sale of building sites were taxable as business profits for the assessment years 1964-65 and 1965-66. Despite the assessee's agricultural background and lack of prior property sales, the court found the intention to make a profit evident based on the nature and location of the land. The court disagreed with the Tribunal's assessment, classifying the transactions as business dealings. The judgment favored the Revenue in both assessment years, denying the assessee's claims. en-us Tue, 05 Nov 1985 00:00:00 +0530 Tue, 02 Feb 2010 13:53:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26040 The court determined that profits from the sale of building sites were taxable as business profits for the assessment years 1964-65 and 1965-66. Despite the assessee's agricultural background and lack of prior property sales, the court found the intention to make a profit evident based on the nature and location of the land. The court disagreed with the Tribunal's assessment, classifying the transactions as business dealings. The judgment favored the Revenue in both assessment years, denying the assessee's claims. Case-Laws Income Tax Tue, 05 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26040