https://www.taxtmi.com/caselaws?id=183288 Dividend received on shares held as stock-in-trade in the course of a share-dealing business is treated as business income under the charging scheme, because the receipt arises incidentally from the business source and cannot be relegated to the residuary head merely due to the separate computational machinery for dividend income. On that basis, the carried-forward business loss from share dealings may be set off against the dividend income. The commentary states that this view follows the scheme of the Act, under which the residuary head applies only where income does not properly fall under an earlier head. en-us Tue, 21 Sep 1954 00:00:00 +0530 Fri, 03 Jun 2016 17:57:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183288 Dividend received on shares held as stock-in-trade in the course of a share-dealing business is treated as business income under the charging scheme, because the receipt arises incidentally from the business source and cannot be relegated to the residuary head merely due to the separate computational machinery for dividend income. On that basis, the carried-forward business loss from share dealings may be set off against the dividend income. The commentary states that this view follows the scheme of the Act, under which the residuary head applies only where income does not properly fall under an earlier head. Case-Laws Income Tax Tue, 21 Sep 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183288