https://www.taxtmi.com/caselaws?id=39806 The court upheld the assessment of the surplus profits as business income, concluding that the assessee engaged in an adventure in the nature of trade in real estate, separate from his hotel business. The transactions were deemed part of a business activity aimed at earning profit, rather than isolated investments. The court ruled in favor of the revenue, ordering the assessee to pay the costs and counsel's fee of Rs. 250. en-us Fri, 04 May 1973 00:00:00 +0530 Tue, 20 Apr 2010 13:31:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39806 The court upheld the assessment of the surplus profits as business income, concluding that the assessee engaged in an adventure in the nature of trade in real estate, separate from his hotel business. The transactions were deemed part of a business activity aimed at earning profit, rather than isolated investments. The court ruled in favor of the revenue, ordering the assessee to pay the costs and counsel's fee of Rs. 250. Case-Laws Income Tax Fri, 04 May 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39806