Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1978 (3) TMI 8 - HC - Income Tax
Extract:
.......case could only lead to one conclusion and that is the one reached by the Tribunal that the transaction was not an adventure in the nature of trade or any kind of business. We, accordingly, answer the first question in the negative and in favour of the revenue and the second question in the affirmative and against the revenue. No order as to costs.