1984 (2) TMI 51 - BOMBAY HIGH COURT - Income Tax

Extract:
.......e was no evidence in support of the Tribunal s finding. Since this is a solitary transaction of purchase of land, the burden would be on the Department to show that this was an adventure in the nature of trade. In our view, the finding of the Tribunal cannot be said to be without evidence or perverse. Accordingly, the rule is discharged with costs.