https://www.taxtmi.com/caselaws?id=173512 A solitary purchase and resale outside the assessee's regular business line can still amount to an adventure in the nature of trade where surrounding circumstances show a sole profit-making intention. Here, the silver bars were bought in a rising market, were non-productive assets, and no cogent alternative motive for the transaction was established. The fact that the funds could have been used to reduce interest liability did not displace the inference that the purchase was made with an expectation of resale profit. The resale surplus was therefore treated as taxable income arising from a trading transaction, not as capital accretion. en-us Mon, 20 Feb 1961 00:00:00 +0530 Thu, 17 Sep 2015 11:48:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173512 A solitary purchase and resale outside the assessee's regular business line can still amount to an adventure in the nature of trade where surrounding circumstances show a sole profit-making intention. Here, the silver bars were bought in a rising market, were non-productive assets, and no cogent alternative motive for the transaction was established. The fact that the funds could have been used to reduce interest liability did not displace the inference that the purchase was made with an expectation of resale profit. The resale surplus was therefore treated as taxable income arising from a trading transaction, not as capital accretion. Case-Laws Income Tax Mon, 20 Feb 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173512