https://www.taxtmi.com/caselaws?id=16769 Immovable properties acquired by a bank in satisfaction of debts during money-lending activity retained their character as stock-in-trade after transfer to the assessee under an amalgamation scheme. Their sale surplus remained taxable as business income because the decisive factor was the nature and source of acquisition, not the compulsory disposal requirement under banking law or the market-value transfer. The article distinguishes cases involving capital assets or property acquired outside the course of banking business, and concludes that such surplus is assessable in the hands of the banking business. en-us Tue, 15 Sep 1998 00:00:00 +0530 Sat, 12 Sep 2009 11:43:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16769 Immovable properties acquired by a bank in satisfaction of debts during money-lending activity retained their character as stock-in-trade after transfer to the assessee under an amalgamation scheme. Their sale surplus remained taxable as business income because the decisive factor was the nature and source of acquisition, not the compulsory disposal requirement under banking law or the market-value transfer. The article distinguishes cases involving capital assets or property acquired outside the course of banking business, and concludes that such surplus is assessable in the hands of the banking business. Case-Laws Income Tax Tue, 15 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16769