https://www.taxtmi.com/caselaws?id=5034 A statement of case must disclose all material facts accepted by the Tribunal so the legal question can be answered on a complete factual basis. Where the facts are unclear, including the basis of share sales and whether they amount to a mere investment variation or business dealing in shares, the taxability of the surplus cannot be determined. The surplus from sale of shares and securities is taxable as revenue income only if the assessee is found to be dealing in shares as a business. The document states that the incomplete reference required supplementation before the tax issue could be determined on the merits. en-us Mon, 17 Apr 1967 00:00:00 +0530 Mon, 12 Nov 2018 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5034 A statement of case must disclose all material facts accepted by the Tribunal so the legal question can be answered on a complete factual basis. Where the facts are unclear, including the basis of share sales and whether they amount to a mere investment variation or business dealing in shares, the taxability of the surplus cannot be determined. The surplus from sale of shares and securities is taxable as revenue income only if the assessee is found to be dealing in shares as a business. The document states that the incomplete reference required supplementation before the tax issue could be determined on the merits. Case-Laws Income Tax Mon, 17 Apr 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5034