https://www.taxtmi.com/caselaws?id=7917 Profits and losses from selling shares, securities, preference shares and debentures remain capital in nature where the transactions merely realise or convert investments for better investment rather than constitute trading activity. The decisive factor is the assessee's intention, determined from the totality of circumstances, including the pattern of acquisitions, sales and retention of holdings. Gradual conversion of investments into ordinary shares, without sale of those shares, supported treatment of the assets as investments rather than stock-in-trade. Surplus is not assessable as business income unless the dealings amount to a business or an adventure in the nature of trade. en-us Tue, 07 Jul 1970 00:00:00 +0530 Tue, 24 Mar 2009 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7917 Profits and losses from selling shares, securities, preference shares and debentures remain capital in nature where the transactions merely realise or convert investments for better investment rather than constitute trading activity. The decisive factor is the assessee's intention, determined from the totality of circumstances, including the pattern of acquisitions, sales and retention of holdings. Gradual conversion of investments into ordinary shares, without sale of those shares, supported treatment of the assets as investments rather than stock-in-trade. Surplus is not assessable as business income unless the dealings amount to a business or an adventure in the nature of trade. Case-Laws Income Tax Tue, 07 Jul 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7917