https://www.taxtmi.com/caselaws?id=59012 Profit on sale of a plot of land was treated as investment realisation rather than income from an adventure in the nature of trade, because the surrounding facts showed no further land dealings, no development activity, no trading organisation, and no trading experience beyond salaried employment. The analysis emphasised that the character of a land transaction must be judged from the totality of circumstances, and that the department bears the burden of proving a trading venture. The receipt was therefore not assessable as business income, though it could still be examined under any other lawful head of income if applicable. en-us Thu, 17 Dec 1981 00:00:00 +0530 Thu, 23 Dec 2010 15:45:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59012 Profit on sale of a plot of land was treated as investment realisation rather than income from an adventure in the nature of trade, because the surrounding facts showed no further land dealings, no development activity, no trading organisation, and no trading experience beyond salaried employment. The analysis emphasised that the character of a land transaction must be judged from the totality of circumstances, and that the department bears the burden of proving a trading venture. The receipt was therefore not assessable as business income, though it could still be examined under any other lawful head of income if applicable. Case-Laws Income Tax Thu, 17 Dec 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59012