Supreme Court of India
Saroj Kumar Mazumdar v. The Commissioner of Income-tax, West Bengal, Calcutta.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
For the aforesaid reasons, we would allow this z959 appeal, and s1it aside the orders of the Tribunal below with costs.
Judgment, page 20
From the headnote
Income-tax-Assessment-Single transaction of purchase and sale of land-If a venture in the nature of trade or capital investment -Test-Dominant intention-Onus-Indian Income-tax Act, z922 (XI of I922), ss. 2(4), IO. The question for decision in this appeal was whether a single transaction of sale of land measuring about three quarters of an acre was an adventure in the nature of trade so as to make it liable to income-tax. The assessee appellant, an Engineer by profession, was engaged in various business activities including that of an engineering firm but, admittedly, had no dealing, except
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