https://www.taxtmi.com/caselaws?id=178837 The High Court of Madras, with Chief Justice Rajamannar and Justice Yahya Ali presiding, ruled that the ventures undertaken by the assessee, a partner in a firm of stock brokers, constituted ventures in the nature of trade. The Court found that the assessee's share transactions were indicative of a business activity rather than mere investment, based on the frequency and volume of transactions over the years. Citing legal principles and precedents, the Court upheld the Income-tax Appellate Tribunal's decision to treat the profits from these transactions as arising from business activities, directing the assessee to bear the costs of the reference. en-us Tue, 10 Aug 1948 00:00:00 +0530 Sat, 13 Feb 2016 12:42:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178837 The High Court of Madras, with Chief Justice Rajamannar and Justice Yahya Ali presiding, ruled that the ventures undertaken by the assessee, a partner in a firm of stock brokers, constituted ventures in the nature of trade. The Court found that the assessee's share transactions were indicative of a business activity rather than mere investment, based on the frequency and volume of transactions over the years. Citing legal principles and precedents, the Court upheld the Income-tax Appellate Tribunal's decision to treat the profits from these transactions as arising from business activities, directing the assessee to bear the costs of the reference. Case-Laws Income Tax Tue, 10 Aug 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178837