https://www.taxtmi.com/caselaws?id=176112 A loss arising from the sale of securities by a banking company to meet depositor withdrawals and other business liabilities was held to be a business loss of revenue character. Because buying and selling securities formed part of the ordinary course of banking operations, the disposal of those securities was treated as a normal business step, not a realisation of capital investment. The distinction applicable to securities held as capital assets did not apply on these facts, and the loss was therefore deductible in computing business income. en-us Thu, 25 Aug 1960 00:00:00 +0530 Sat, 12 Dec 2015 13:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176112 A loss arising from the sale of securities by a banking company to meet depositor withdrawals and other business liabilities was held to be a business loss of revenue character. Because buying and selling securities formed part of the ordinary course of banking operations, the disposal of those securities was treated as a normal business step, not a realisation of capital investment. The distinction applicable to securities held as capital assets did not apply on these facts, and the loss was therefore deductible in computing business income. Case-Laws Income Tax Thu, 25 Aug 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176112