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2005 (5) TMI 23 - ALLAHABAD HIGH COURT
Adventure in the nature of trade - sale of land - "Whether Tribunal was legally justified in confirming the view of the learned Commissioner of Income-tax (Appeals) who held that the profits arising from the sale of land was not an adventure in the nature of trade and further in directing the Assessing Officer to treat the receipt of Rs. 21,30,175 during the year and the balance being receipts in the subsequent year as capital gains?" - we answer the question referred to us in the affirmative, i.e., in favour of the assessee and against the Revenue