High Court to Decide if Asset Sale is Trade Adventure or Normal Sale for Tax Classification.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Sale of asset - adventure in the nature of trade or would be the normal sale of assets attracting long term capital gain - Revenue’s stand is that pursuit of higher profit by itself would confer on the transaction the character of business venture. - HC....