https://www.taxtmi.com/caselaws?id=287094 Property taken in satisfaction of a loan in the course of money-lending business, and sold promptly in parts to realise the debt, was treated as part of the business process rather than a capital investment. The court held that the acquisition and resale were steps in recovering money advanced in the ordinary course of business, so the surplus on resale arose from a business transaction and had the character of revenue income. The reference was answered against the assessee and in favour of the Revenue. en-us Tue, 09 Sep 1952 00:00:00 +0530 Sat, 28 Mar 2020 11:22:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287094 Property taken in satisfaction of a loan in the course of money-lending business, and sold promptly in parts to realise the debt, was treated as part of the business process rather than a capital investment. The court held that the acquisition and resale were steps in recovering money advanced in the ordinary course of business, so the surplus on resale arose from a business transaction and had the character of revenue income. The reference was answered against the assessee and in favour of the Revenue. Case-Laws Income Tax Tue, 09 Sep 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287094