https://www.taxtmi.com/caselaws?id=70465 The Tribunal concluded that the assessee was an investor in the shares in question, and the surplus from the sale of shares to the subsidiary company was a capital gain exempt under Section 47(iv) of the Income Tax Act. The department's appeal was dismissed, affirming the Commissioner (Appeals) order. The Tribunal found no evidence to support the Income Tax Officer's classification of the transaction as an adventure in the nature of trade or as a business asset. en-us Sat, 27 Feb 1982 00:00:00 +0530 Sat, 16 Apr 2011 13:06:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70465 The Tribunal concluded that the assessee was an investor in the shares in question, and the surplus from the sale of shares to the subsidiary company was a capital gain exempt under Section 47(iv) of the Income Tax Act. The department's appeal was dismissed, affirming the Commissioner (Appeals) order. The Tribunal found no evidence to support the Income Tax Officer's classification of the transaction as an adventure in the nature of trade or as a business asset. Case-Laws Income Tax Sat, 27 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70465