https://www.taxtmi.com/caselaws?id=6449 Share gains are treated as business income where the surrounding circumstances show a commercial venture and a dominant intention to resell for profit, even if the transaction is isolated and some investment purpose is also present. The character of the transaction depends on the manner of acquisition, the assessee's conduct, the commercial setting, and the intention at purchase and sale. A single transaction can still amount to an adventure in the nature of trade. On the facts described, the Tribunal's finding that the shares were dealt with on a trading footing, funded by borrowings, and sold without pressing necessity was supported by evidence, and the contrary factual assumption adopted by the High Court was rejected. en-us Fri, 25 Jul 1975 00:00:00 +0530 Fri, 05 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6449 Share gains are treated as business income where the surrounding circumstances show a commercial venture and a dominant intention to resell for profit, even if the transaction is isolated and some investment purpose is also present. The character of the transaction depends on the manner of acquisition, the assessee's conduct, the commercial setting, and the intention at purchase and sale. A single transaction can still amount to an adventure in the nature of trade. On the facts described, the Tribunal's finding that the shares were dealt with on a trading footing, funded by borrowings, and sold without pressing necessity was supported by evidence, and the contrary factual assumption adopted by the High Court was rejected. Case-Laws Income Tax Fri, 25 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6449