https://www.taxtmi.com/caselaws?id=23932 The High Court of Calcutta considered the nature of share sales and the profit motive for tax assessment in a case for the assessment year 1956-57. Despite insufficient evidence presented, the court upheld the inclusion of profits from share sales in total income as revenue profit. The Tribunal's decision, based on the short holding period of shares, was not challenged for perversity. The court ruled in favor of the Revenue, treating share sale profits as revenue profit. Justices Suhas Chandra Sen and Bhagabati Prasad Banerjee delivered the judgment without awarding costs. en-us Tue, 21 Feb 1989 00:00:00 +0530 Fri, 15 Jan 2010 13:05:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23932 The High Court of Calcutta considered the nature of share sales and the profit motive for tax assessment in a case for the assessment year 1956-57. Despite insufficient evidence presented, the court upheld the inclusion of profits from share sales in total income as revenue profit. The Tribunal's decision, based on the short holding period of shares, was not challenged for perversity. The court ruled in favor of the Revenue, treating share sale profits as revenue profit. Justices Suhas Chandra Sen and Bhagabati Prasad Banerjee delivered the judgment without awarding costs. Case-Laws Income Tax Tue, 21 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23932