https://www.taxtmi.com/caselaws?id=6321 Property acquired in the course of a money-lending business retained its character as a business asset where the assessee dealt with related outgoings and losses in the business accounts and part of the bad-debt write-off was referable to that property. On those facts, the sale proceeds were treated as a business realisation rather than the conversion of a capital asset, so the surplus on sale was assessable as profits and gains of the money-lending business and not as a capital receipt. The issue was answered in favour of the Revenue and against the assessee. en-us Tue, 03 Aug 1971 00:00:00 +0530 Sun, 08 May 2011 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6321 Property acquired in the course of a money-lending business retained its character as a business asset where the assessee dealt with related outgoings and losses in the business accounts and part of the bad-debt write-off was referable to that property. On those facts, the sale proceeds were treated as a business realisation rather than the conversion of a capital asset, so the surplus on sale was assessable as profits and gains of the money-lending business and not as a capital receipt. The issue was answered in favour of the Revenue and against the assessee. Case-Laws Income Tax Tue, 03 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6321