https://www.taxtmi.com/caselaws?id=70090 The Tribunal concluded that the transaction of purchasing and selling the gold bond was deemed an adventure in the nature of trade. The surplus of Rs. 35,000 was held liable to be taxed as business income. Additionally, the exemption under section 2(14)(iv) was found to apply to the gold bond regardless of whether it was held by the original subscriber or a subsequent holder. The appeal by the assessee was dismissed, upholding the order of the AAC and confirming the taxability of the surplus as business income. en-us Wed, 02 Jul 1986 00:00:00 +0530 Mon, 13 Jun 2011 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70090 The Tribunal concluded that the transaction of purchasing and selling the gold bond was deemed an adventure in the nature of trade. The surplus of Rs. 35,000 was held liable to be taxed as business income. Additionally, the exemption under section 2(14)(iv) was found to apply to the gold bond regardless of whether it was held by the original subscriber or a subsequent holder. The appeal by the assessee was dismissed, upholding the order of the AAC and confirming the taxability of the surplus as business income. Case-Laws Income Tax Wed, 02 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70090