https://www.taxtmi.com/caselaws?id=38767 Transfer of plant and machinery was treated as completed on the deed date, so the earlier exclusion from assessment was not justified. The sale of mines and mining rights was examined on the totality of circumstances, including revaluation, parcelling, subsidiary arrangements and profit-making design, and was characterised as a trading transaction or venture in the nature of trade. The resulting gain was therefore assessable as business profit. The contention that no profit had been earned on the transfers was rejected, and the amounts could not be excluded from total income on that basis. en-us Fri, 04 Jul 1975 00:00:00 +0530 Thu, 08 Apr 2010 18:36:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38767 Transfer of plant and machinery was treated as completed on the deed date, so the earlier exclusion from assessment was not justified. The sale of mines and mining rights was examined on the totality of circumstances, including revaluation, parcelling, subsidiary arrangements and profit-making design, and was characterised as a trading transaction or venture in the nature of trade. The resulting gain was therefore assessable as business profit. The contention that no profit had been earned on the transfers was rejected, and the amounts could not be excluded from total income on that basis. Case-Laws Income Tax Fri, 04 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38767