https://www.taxtmi.com/caselaws?id=7875 The document addresses whether the Tribunal's conclusion that shares were stock-in-trade and sale proceeds were trading profit constitutes a legal inference. It notes the Tribunal's earlier decision relied on suspicions, surmises and inadmissible material, rendering that factual finding vitiated; on remand the Tribunal treated the receipts as capital for an earlier year but for the years in question simply relied on the prior contaminated order without fresh adjudication. Consequently the characterisation as stock-in-trade cannot be sustained and the matter is remitted for fresh legally valid findings. en-us Wed, 18 Dec 1968 00:00:00 +0530 Mon, 23 Mar 2009 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7875 The document addresses whether the Tribunal's conclusion that shares were stock-in-trade and sale proceeds were trading profit constitutes a legal inference. It notes the Tribunal's earlier decision relied on suspicions, surmises and inadmissible material, rendering that factual finding vitiated; on remand the Tribunal treated the receipts as capital for an earlier year but for the years in question simply relied on the prior contaminated order without fresh adjudication. Consequently the characterisation as stock-in-trade cannot be sustained and the matter is remitted for fresh legally valid findings. Case-Laws Income Tax Wed, 18 Dec 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7875