https://www.taxtmi.com/caselaws?id=58497 The Tribunal confirmed that the land was agricultural, the transaction was an investment rather than a trade adventure, and the surplus amount from the sale was not taxable. As a result, the appeals were dismissed, upholding the decision that the land was not a capital asset, the transaction was not a trade venture, and the surplus was not subject to taxation. en-us Wed, 08 May 1985 00:00:00 +0530 Mon, 20 Dec 2010 12:33:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58497 The Tribunal confirmed that the land was agricultural, the transaction was an investment rather than a trade adventure, and the surplus amount from the sale was not taxable. As a result, the appeals were dismissed, upholding the decision that the land was not a capital asset, the transaction was not a trade venture, and the surplus was not subject to taxation. Case-Laws Income Tax Wed, 08 May 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58497