https://www.taxtmi.com/caselaws?id=65056 The tribunal ruled that the profit from the sale of National Defence Gold Bonds, 1980 should be treated as capital gains and exempt from tax. The transaction was deemed an investment, not an adventure in the nature of trade, as evidenced by the isolated nature of the purchase and absence of regular trading activities in gold bonds. Therefore, the tribunal allowed the appeal, directing the deletion of the profit amount from the assessee's total income. en-us Wed, 21 May 1986 00:00:00 +0530 Sat, 12 Feb 2011 10:46:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65056 The tribunal ruled that the profit from the sale of National Defence Gold Bonds, 1980 should be treated as capital gains and exempt from tax. The transaction was deemed an investment, not an adventure in the nature of trade, as evidenced by the isolated nature of the purchase and absence of regular trading activities in gold bonds. Therefore, the tribunal allowed the appeal, directing the deletion of the profit amount from the assessee's total income. Case-Laws Income Tax Wed, 21 May 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65056