https://www.taxtmi.com/caselaws?id=49633 Whether the profit from purchase and resale of contiguous plots constituted an adventure in the nature of trade was determined by applying factors-purchaser status, nature and number of plots, intention to resell, pre- and post-purchase conduct, consolidation under a plan, and absence of investment activity-and treating the issue as a mixed question of law and fact amenable to review under Section 66(1). The proved scheme of piecemeal benami and subsequent acquisitions for sale to the adjoining mill supported the inference of sole intent to resell; consequently the profit was held taxable as business income under the relevant provisions. en-us Mon, 24 Nov 1958 00:00:00 +0530 Tue, 22 Apr 2025 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49633 Whether the profit from purchase and resale of contiguous plots constituted an adventure in the nature of trade was determined by applying factors-purchaser status, nature and number of plots, intention to resell, pre- and post-purchase conduct, consolidation under a plan, and absence of investment activity-and treating the issue as a mixed question of law and fact amenable to review under Section 66(1). The proved scheme of piecemeal benami and subsequent acquisitions for sale to the adjoining mill supported the inference of sole intent to resell; consequently the profit was held taxable as business income under the relevant provisions. Case-Laws Income Tax Mon, 24 Nov 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49633