https://www.taxtmi.com/caselaws?id=49230 Profits from the sale of estates and properties are taxable as business income only if, on the collective facts, the transactions amount to an adventure in the nature of trade. The mere existence of a power to sell property, or a few isolated sales, is not decisive. Here, the company had acquired the assets to take over an existing firm, carried on planting operations, and held the properties as investments while making occasional sales for management reasons and disposal of uneconomic portions. The surplus was therefore treated as capital accretion, not income chargeable to tax. en-us Fri, 10 Dec 1965 00:00:00 +0530 Mon, 03 Nov 2025 18:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49230 Profits from the sale of estates and properties are taxable as business income only if, on the collective facts, the transactions amount to an adventure in the nature of trade. The mere existence of a power to sell property, or a few isolated sales, is not decisive. Here, the company had acquired the assets to take over an existing firm, carried on planting operations, and held the properties as investments while making occasional sales for management reasons and disposal of uneconomic portions. The surplus was therefore treated as capital accretion, not income chargeable to tax. Case-Laws Income Tax Fri, 10 Dec 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49230