https://www.taxtmi.com/caselaws?id=186931 Where Tribunal findings on share transactions are supported by evidence, the High Court will not interfere in reference unless the findings are unsupported, contrary to evidence, or capricious. On the facts found, the shares were bought and sold at market rates, borrowed funds were used, and the assessee's business objects included dealing in shares; there was no evidentiary basis to treat the dealings as a mere investment or unreal market manipulation. The Tribunal was therefore entitled to infer that the transaction was an ordinary business adventure in shares and that the resulting loss was a trade loss allowable in assessment. en-us Fri, 14 Dec 1962 00:00:00 +0530 Tue, 04 Oct 2016 17:09:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186931 Where Tribunal findings on share transactions are supported by evidence, the High Court will not interfere in reference unless the findings are unsupported, contrary to evidence, or capricious. On the facts found, the shares were bought and sold at market rates, borrowed funds were used, and the assessee's business objects included dealing in shares; there was no evidentiary basis to treat the dealings as a mere investment or unreal market manipulation. The Tribunal was therefore entitled to infer that the transaction was an ordinary business adventure in shares and that the resulting loss was a trade loss allowable in assessment. Case-Laws Income Tax Fri, 14 Dec 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186931