https://www.taxtmi.com/caselaws?id=39614 The High Court held that the profit of Rs. 4,000 realized from the assignment of the decree was taxable as profit from business. The court determined that the transaction constituted a business venture as the assessee's intention in purchasing the decree was to execute it and realize the amount due. Even if the property could have been purchased without executing the decree, the nature of the transaction remained a business venture. The court referred to previous decisions and upheld that such transactions were akin to an adventure in the nature of trade, resulting in the profit being assessed as business profit. en-us Wed, 02 Apr 1975 00:00:00 +0530 Mon, 19 Apr 2010 11:37:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39614 The High Court held that the profit of Rs. 4,000 realized from the assignment of the decree was taxable as profit from business. The court determined that the transaction constituted a business venture as the assessee's intention in purchasing the decree was to execute it and realize the amount due. Even if the property could have been purchased without executing the decree, the nature of the transaction remained a business venture. The court referred to previous decisions and upheld that such transactions were akin to an adventure in the nature of trade, resulting in the profit being assessed as business profit. Case-Laws Income Tax Wed, 02 Apr 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39614