https://www.taxtmi.com/caselaws?id=49596 The note addresses whether a solitary purchase-and-assignment of land constitutes an adventure in the nature of trade, clarifying that this is a mixed question of law and fact: fact-finders must establish primary facts and courts decide legal characterisation. Relevant factors include transaction magnitude, purchaser's business activities, means of finance, intention at purchase, and whether the deal is an isolated investment or part of trading activity. The analysis emphasises that the revenue bears the burden to prove a dominant trading intention; absent such proof the gain is an accretion to capital rather than income from an adventure in the nature of trade, and the tribunal's orders were overturned in favour of the taxpayer. en-us Mon, 04 May 1959 00:00:00 +0530 Sat, 24 Sep 2016 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49596 The note addresses whether a solitary purchase-and-assignment of land constitutes an adventure in the nature of trade, clarifying that this is a mixed question of law and fact: fact-finders must establish primary facts and courts decide legal characterisation. Relevant factors include transaction magnitude, purchaser's business activities, means of finance, intention at purchase, and whether the deal is an isolated investment or part of trading activity. The analysis emphasises that the revenue bears the burden to prove a dominant trading intention; absent such proof the gain is an accretion to capital rather than income from an adventure in the nature of trade, and the tribunal's orders were overturned in favour of the taxpayer. Case-Laws Income Tax Mon, 04 May 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49596