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2002 (7) TMI 68 - HC - Income TaxBusiness - Adventure In The Nature Of Trade - Both the authorities have found that the assessee was in service; no change in the character of the said plot had been effected from the year 1971 to 1989; there was no material on record from where it could be said that the assessee ever had the intention to exploit the plot as a commercial venture. We are in complete agreement with the Tribunal that merely because six flats had been constructed, out of which four were sold to friends, it would not show that it was an adventure in the nature of trade, as is sought to be pleaded by learned counsel for the Revenue. We do not find any ground to interfere with the concurrent findings recorded by the Commissioner of Income-tax (Appeals) and the Tribunal
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