https://www.taxtmi.com/caselaws?id=173512 Whether a solitary purchase-and-resale of silver bars amounts to an adventure in the nature of trade was addressed by weighing factual indicia of trading against factors favouring investment. The controlling principle applied is that buying a commodity in circumstances making resale profit probable gives rise to a strong presumption of trading intent, displaceable only by cogent contrary evidence. On the facts-purchase during a rising market, sole motive of profit, non-productive holding, and the assessee's financial position-the presumption was not rebutted, and the transaction was held to be an adventure in the nature of trade, rendering the profit taxable as income. 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 Whether a solitary purchase-and-resale of silver bars amounts to an adventure in the nature of trade was addressed by weighing factual indicia of trading against factors favouring investment. The controlling principle applied is that buying a commodity in circumstances making resale profit probable gives rise to a strong presumption of trading intent, displaceable only by cogent contrary evidence. On the facts-purchase during a rising market, sole motive of profit, non-productive holding, and the assessee's financial position-the presumption was not rebutted, and the transaction was held to be an adventure in the nature of trade, rendering the profit taxable as income. Case-Laws Income Tax Mon, 20 Feb 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173512