https://www.taxtmi.com/caselaws?id=10556 HC affirmed that the Tribunal's factual finding - the shares were not treated as stock-in-trade but held to earn dividends - meant profit on their sale qualified as capital gain, not business income. The court noted a company may hold some shares as trading stock and others as capital assets for dividend income; since these shares were maintained as capital, the resulting gain on sale was taxable as capital gain rather than business income. en-us Wed, 13 Apr 2005 00:00:00 +0530 Mon, 22 Sep 2025 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10556 HC affirmed that the Tribunal's factual finding - the shares were not treated as stock-in-trade but held to earn dividends - meant profit on their sale qualified as capital gain, not business income. The court noted a company may hold some shares as trading stock and others as capital assets for dividend income; since these shares were maintained as capital, the resulting gain on sale was taxable as capital gain rather than business income. Case-Laws Income Tax Wed, 13 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10556