https://www.taxtmi.com/caselaws?id=6275 Profit from the sale of shares was assessable as revenue income where the assessee failed to show that the shares were separately treated as investment in its books or otherwise kept apart from trading stock. Repeated share transactions over successive years supported the conclusion that the assessee had moved beyond mere investment and was carrying on business as a dealer in shares. The character of particular share holdings as investment or stock-in-trade was primarily a question of fact for the Tribunal, and the High Court could not reappraise that factual finding on a new basis not raised before the fact-finding authorities. en-us Tue, 07 Sep 1971 00:00:00 +0530 Wed, 03 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6275 Profit from the sale of shares was assessable as revenue income where the assessee failed to show that the shares were separately treated as investment in its books or otherwise kept apart from trading stock. Repeated share transactions over successive years supported the conclusion that the assessee had moved beyond mere investment and was carrying on business as a dealer in shares. The character of particular share holdings as investment or stock-in-trade was primarily a question of fact for the Tribunal, and the High Court could not reappraise that factual finding on a new basis not raised before the fact-finding authorities. Case-Laws Income Tax Tue, 07 Sep 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6275