https://www.taxtmi.com/caselaws?id=9733 The court held that the profit earned from the sale of 2% National Defence Gold Bonds did not arise from an adventure in the nature of trade, ruling it as capital gains rather than business income. The court considered factors such as the isolated nature of the transactions, absence of trading intent, and initial investment purpose. The decision favored the assessees over the Revenue, determining that the short holding period alone was insufficient to classify the transactions as trade, thus exempting the profits from taxation as business income. en-us Thu, 13 Oct 2005 00:00:00 +0530 Tue, 30 Jun 2009 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9733 The court held that the profit earned from the sale of 2% National Defence Gold Bonds did not arise from an adventure in the nature of trade, ruling it as capital gains rather than business income. The court considered factors such as the isolated nature of the transactions, absence of trading intent, and initial investment purpose. The decision favored the assessees over the Revenue, determining that the short holding period alone was insufficient to classify the transactions as trade, thus exempting the profits from taxation as business income. Case-Laws Income Tax Thu, 13 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9733