https://www.taxtmi.com/caselaws?id=186373 A company's purchase and sale of Rohtas shares was treated as a business transaction rather than a mere investment. The company's articles expressly authorised it to acquire and deal in shares and to invest funds as its directors considered fit. The surplus funds were deployed in shares of a sister concern, and the acquisition and sale were found to serve the company's own commercial interests. On that basis, the activity was regarded as carried on within its commercial powers and for profit in the course of business, not as passive realisation of an investment. en-us Thu, 23 Sep 1943 00:00:00 +0630 Thu, 15 Sep 2016 17:00:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186373 A company's purchase and sale of Rohtas shares was treated as a business transaction rather than a mere investment. The company's articles expressly authorised it to acquire and deal in shares and to invest funds as its directors considered fit. The surplus funds were deployed in shares of a sister concern, and the acquisition and sale were found to serve the company's own commercial interests. On that basis, the activity was regarded as carried on within its commercial powers and for profit in the course of business, not as passive realisation of an investment. Case-Laws Income Tax Thu, 23 Sep 1943 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=186373