https://www.taxtmi.com/caselaws?id=470558 Profits from the sale of plots carved from long-held ancestral land are characterised as capital gains where the facts do not show an intention or organised course of conduct to trade. Conversion to non-agricultural use, plotting, infrastructure development and piecemeal sales may facilitate realisation of enhanced value but do not alone establish a trading venture. The analysis distinguishes capital investment realisation from business activity by noting the absence of purchase activity, organised trading operations and active marketing. It also states that computation should account for opening-stock value and plot costs. The resulting capital-gains treatment supports acceptance of the claimed deduction for investment in specified bonds. en-us Fri, 21 Mar 2025 00:00:00 +0530 Fri, 31 Jul 2026 08:27:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470558 Profits from the sale of plots carved from long-held ancestral land are characterised as capital gains where the facts do not show an intention or organised course of conduct to trade. Conversion to non-agricultural use, plotting, infrastructure development and piecemeal sales may facilitate realisation of enhanced value but do not alone establish a trading venture. The analysis distinguishes capital investment realisation from business activity by noting the absence of purchase activity, organised trading operations and active marketing. It also states that computation should account for opening-stock value and plot costs. The resulting capital-gains treatment supports acceptance of the claimed deduction for investment in specified bonds. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470558