https://www.taxtmi.com/caselaws?id=58944 Surplus from the sale of land was treated as a realisation of investment rather than business income, because the overall circumstances showed no repeated land dealings, no development activity, no trading organisation, and no commercial apparatus. In disputes over land transactions, the burden rests on the Revenue to prove that the venture was trading in character. On the facts found, that burden was not discharged, so the receipt was not assessable under the head of business. en-us Thu, 17 Dec 1981 00:00:00 +0530 Thu, 23 Dec 2010 12:32:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58944 Surplus from the sale of land was treated as a realisation of investment rather than business income, because the overall circumstances showed no repeated land dealings, no development activity, no trading organisation, and no commercial apparatus. In disputes over land transactions, the burden rests on the Revenue to prove that the venture was trading in character. On the facts found, that burden was not discharged, so the receipt was not assessable under the head of business. Case-Laws Income Tax Thu, 17 Dec 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58944