COMMISSIONER OF INCOME-TAX versus SMT. BILKISHBAI
Business Revenue In the nature of trade, the Adventure Tribunal has discovered that repeated sale and purchase of agricultural land is not an adventure in the nature of trade. Extra business income on the sale of land involved in any organized business activity cannot be estimated because of the evidence-based results. In fact, there is no question of law in the Indian Income Tax Act, 1961, Section 256 (2).
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