https://www.taxtmi.com/caselaws?id=6650 Mere purchase of shares with business funds, or their entry in business accounts, does not by itself make them stock-in-trade of a money-lending business. To characterise the shares as business assets, there must be clear evidence that they were held and dealt with in the ordinary course of that business, such as pledge, sale, or use of the proceeds for the business. On the facts, no such evidence was shown, so the shares were treated as an investment and the loss on sale was not deductible as a business loss but was a capital loss. en-us Wed, 15 Sep 1965 00:00:00 +0530 Sat, 31 Jan 2009 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6650 Mere purchase of shares with business funds, or their entry in business accounts, does not by itself make them stock-in-trade of a money-lending business. To characterise the shares as business assets, there must be clear evidence that they were held and dealt with in the ordinary course of that business, such as pledge, sale, or use of the proceeds for the business. On the facts, no such evidence was shown, so the shares were treated as an investment and the loss on sale was not deductible as a business loss but was a capital loss. Case-Laws Income Tax Wed, 15 Sep 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6650