Case Law Details
Case Name : Raj Dulari Bhasin Vs CIT (Delhi High Court)
Related Assessment Year :
Courts :
All High Courts Delhi High Court
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Brief of the Case
Delhi High Court held In the case of Raj Dulari Bhasin vs. CIT that merely because the Assessee approached the builder for constructing the flats on the portion apart from the already constructed portion, would not make the transaction an ‘adventure in the nature of trade’. There is no material to show that the Assessee ever had the intention to exploit the plot as a commercial venture. All that the Assessee had received was a residential flat of the value of Rs. 5,32,855 and Rs. 4 lakhs in cash as a result of the agreement entered into with the builder.
Facts ...
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