COMMISSIONER OF INCOME TAX Vs. SHASHI KUMAR AGRAWAL

JUDGEMENT

(1.) HEARD Shri Ashok Kumar, learned counsel for the applicant; and Shri Pankaj Mittal, learned counsel for the respondent -assessee.

(2.) THE following question of law has been referred to this court for opinion :

(3.) IN view of the above decision, we answer the question referred to above in negative, i.e., it cannot be taxed as profit from an adventure in the nature of trade.