https://www.taxtmi.com/caselaws?id=8305 Shares acquired to eliminate competition and secure a lasting business advantage were treated as an investment made to obtain an enduring capital advantage, not as trading stock. Because the assessee was not shown to be a dealer in shares and the transaction was connected with acquisition of a capital asset rather than day-to-day business operations, the loss on sale retained that capital character. The resulting loss was therefore capital in nature and not allowable as a business loss. en-us Wed, 02 Dec 1970 00:00:00 +0530 Thu, 09 Apr 2009 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8305 Shares acquired to eliminate competition and secure a lasting business advantage were treated as an investment made to obtain an enduring capital advantage, not as trading stock. Because the assessee was not shown to be a dealer in shares and the transaction was connected with acquisition of a capital asset rather than day-to-day business operations, the loss on sale retained that capital character. The resulting loss was therefore capital in nature and not allowable as a business loss. Case-Laws Income Tax Wed, 02 Dec 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8305