https://www.taxtmi.com/caselaws?id=27859 The High Court determined that the sale of land by the assessee was an adventure in the nature of trade during the assessment year 1975-76. The court considered the intention behind the purchase, the history of buying and selling properties, and the quick agreements to sell the land in parts after purchase. It concluded that the transaction was for profit and not for personal use. The computation of profit was based on the intention of the assessee to sell the land in smaller portions, regardless of its agricultural nature. The judgment underscores the significance of intention in such transactions. en-us Tue, 13 Sep 1983 00:00:00 +0530 Tue, 16 Feb 2010 14:10:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27859 The High Court determined that the sale of land by the assessee was an adventure in the nature of trade during the assessment year 1975-76. The court considered the intention behind the purchase, the history of buying and selling properties, and the quick agreements to sell the land in parts after purchase. It concluded that the transaction was for profit and not for personal use. The computation of profit was based on the intention of the assessee to sell the land in smaller portions, regardless of its agricultural nature. The judgment underscores the significance of intention in such transactions. Case-Laws Income Tax Tue, 13 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27859