https://www.taxtmi.com/caselaws?id=69774 A company is treated as one whose business consists wholly or mainly in holding investments only where the investment activity is a real, substantial, systematic and organised business directed to earning profits. On the facts, the assessee's investments remained substantially steady, with no material change in pattern or extent, and dividend income was only an ordinary consequence of shareholding. The required organised investment activity was not established, so the assessee did not fall within the class of investment companies for the relevant assessment years and the super-tax assessments on undistributed income could not be sustained. en-us Mon, 19 Nov 1979 00:00:00 +0530 Tue, 12 Apr 2011 10:33:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69774 A company is treated as one whose business consists wholly or mainly in holding investments only where the investment activity is a real, substantial, systematic and organised business directed to earning profits. On the facts, the assessee's investments remained substantially steady, with no material change in pattern or extent, and dividend income was only an ordinary consequence of shareholding. The required organised investment activity was not established, so the assessee did not fall within the class of investment companies for the relevant assessment years and the super-tax assessments on undistributed income could not be sustained. Case-Laws Income Tax Mon, 19 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69774