https://www.taxtmi.com/caselaws?id=177760 Whether shares were investment assets or stock-in-trade depended on a mixed question of law and fact. The Tribunal relied on book-keeping practice and family conduct to treat the shares in set No. 2 as investment shares, but the record also showed active trading through other books, use of the shares in the share business, and an earlier finding that the same shares formed part of stock-in-trade. The court held that the adverse inference rested on conjecture, surmise and suspicion, and was not legally sustainable. The referred question was answered in the negative. en-us Fri, 25 Mar 1960 00:00:00 +0530 Mon, 18 Jan 2016 14:20:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177760 Whether shares were investment assets or stock-in-trade depended on a mixed question of law and fact. The Tribunal relied on book-keeping practice and family conduct to treat the shares in set No. 2 as investment shares, but the record also showed active trading through other books, use of the shares in the share business, and an earlier finding that the same shares formed part of stock-in-trade. The court held that the adverse inference rested on conjecture, surmise and suspicion, and was not legally sustainable. The referred question was answered in the negative. Case-Laws Income Tax Fri, 25 Mar 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177760