1999 (10) TMI 32

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..... ed to us at the instance of the Revenue : "1. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the additional wealth-tax is not leviable in respect of agricultural lands lying within eight kilometers of the municipal limit ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal has valid materials to hold that the prop .....

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..... running a business under the name "Vijayakumar Cotton Press", that he has a ginning factory and godown in a portion of his land is not in dispute. That is what has been noticed by the Wealth-tax Officer. That the character of the land owned by the assessee is agricultural land and that the assessee was carrying on agricultural activity in the area not covered by the ginning factory and godown has .....

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..... xtensively used is a word of indefinite import. In taxing statutes it is used in the sense of an occupation or profession which occupies the time, attention and labour of a person normally with the object of making profit. To regard an activity as business, there must be a course of dealings, either actually continued or contemplated to be continued with a profit motive, and not for sport or pleas .....

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