https://www.taxtmi.com/caselaws?id=58036 Surplus on sale of land was taxable as capital gains, not business income, because the land had been acquired decades earlier as an investment and not with an intention to trade. The absence of fresh commercial purchases, improvements to facilitate resale, or other indicia of a trading venture, together with the long holding period and sales driven by encroachments and litigation, showed no adventure in the nature of trade. The Revenue failed to establish a trading design at inception or any clear commercial character in the disposals, so the capital gains treatment was upheld. en-us Wed, 19 May 1993 00:00:00 +0530 Fri, 17 Dec 2010 10:10:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58036 Surplus on sale of land was taxable as capital gains, not business income, because the land had been acquired decades earlier as an investment and not with an intention to trade. The absence of fresh commercial purchases, improvements to facilitate resale, or other indicia of a trading venture, together with the long holding period and sales driven by encroachments and litigation, showed no adventure in the nature of trade. The Revenue failed to establish a trading design at inception or any clear commercial character in the disposals, so the capital gains treatment was upheld. Case-Laws Income Tax Wed, 19 May 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58036