https://www.taxtmi.com/caselaws?id=37247 The court held that the profit from the sale of plots by the assessee was assessable as income from an adventure in the nature of trade for the relevant assessment years. The court rejected the assessee's argument that the intention was investment rather than trade, citing actions taken by the assessee indicating a business venture. The Tribunal's decision was set aside, and the revenue's contentions were upheld, with costs awarded in their favor. The court deemed the question of capital gains tax assessment unnecessary in this case. en-us Fri, 24 Feb 1978 00:00:00 +0530 Sat, 27 Mar 2010 16:04:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37247 The court held that the profit from the sale of plots by the assessee was assessable as income from an adventure in the nature of trade for the relevant assessment years. The court rejected the assessee's argument that the intention was investment rather than trade, citing actions taken by the assessee indicating a business venture. The Tribunal's decision was set aside, and the revenue's contentions were upheld, with costs awarded in their favor. The court deemed the question of capital gains tax assessment unnecessary in this case. Case-Laws Income Tax Fri, 24 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37247