https://www.taxtmi.com/caselaws?id=39102 A single purchase of evacuee compensation claims was treated as a casual and non-recurring receipt, not business income. The surrounding facts showed no dealing in such claims as a business, and the claims were used to acquire a building for personal use. On that factual basis, the transaction lacked the trading intention needed to characterise it as an adventure in the nature of trade. The receipt was therefore not taxable as profit from business activity. en-us Thu, 05 Dec 1974 00:00:00 +0530 Mon, 12 Apr 2010 18:27:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39102 A single purchase of evacuee compensation claims was treated as a casual and non-recurring receipt, not business income. The surrounding facts showed no dealing in such claims as a business, and the claims were used to acquire a building for personal use. On that factual basis, the transaction lacked the trading intention needed to characterise it as an adventure in the nature of trade. The receipt was therefore not taxable as profit from business activity. Case-Laws Income Tax Thu, 05 Dec 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39102