https://www.taxtmi.com/caselaws?id=7819 Shares acquired as an investment to secure a managing agency, held for about 13 years, and treated in the balance-sheet as investments rather than stock-in-trade were capital assets. The mere fact that the memorandum authorised dealings in shares did not change the character of this transaction. Because the sale was not in the ordinary course of a share-dealing business, the loss on sale was capital in nature and not deductible in computing business profits. The result was against the assessee and in favour of the Revenue. en-us Tue, 07 Oct 1969 00:00:00 +0530 Thu, 19 Mar 2009 16:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7819 Shares acquired as an investment to secure a managing agency, held for about 13 years, and treated in the balance-sheet as investments rather than stock-in-trade were capital assets. The mere fact that the memorandum authorised dealings in shares did not change the character of this transaction. Because the sale was not in the ordinary course of a share-dealing business, the loss on sale was capital in nature and not deductible in computing business profits. The result was against the assessee and in favour of the Revenue. Case-Laws Income Tax Tue, 07 Oct 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7819