https://www.taxtmi.com/caselaws?id=27106 An isolated purchase of land after acquisition notification, made to secure compensation rather than to hold, enjoy or resell in the ordinary course of trade, did not amount to an adventure in the nature of trade. The character of such a transaction depends on the totality of circumstances and is a mixed question of law and fact; mere expectation of gain is insufficient to convert it into trading activity. Enhanced compensation received through the statutory acquisition process was therefore treated as a capital accretion and not as business income. en-us Fri, 30 Dec 1983 00:00:00 +0530 Wed, 10 Feb 2010 17:31:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27106 An isolated purchase of land after acquisition notification, made to secure compensation rather than to hold, enjoy or resell in the ordinary course of trade, did not amount to an adventure in the nature of trade. The character of such a transaction depends on the totality of circumstances and is a mixed question of law and fact; mere expectation of gain is insufficient to convert it into trading activity. Enhanced compensation received through the statutory acquisition process was therefore treated as a capital accretion and not as business income. Case-Laws Income Tax Fri, 30 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27106