https://www.taxtmi.com/caselaws?id=27214 The High Court held that profits from transactions in shares of Hindustan Motors Ltd. were includible under the head 'Business' for the assessment years 1962-63 and 1963-64, as they were deemed trading transactions. Conversely, profits from transactions in shares of Century Spinning and Weaving Company Ltd. were not considered trading transactions for the same assessment years, leading to a ruling in favor of the assessee-company. The High Court's decision was based on the nature of the transactions and the application of relevant legal tests. en-us Mon, 05 Dec 1983 00:00:00 +0530 Thu, 11 Feb 2010 15:32:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27214 The High Court held that profits from transactions in shares of Hindustan Motors Ltd. were includible under the head 'Business' for the assessment years 1962-63 and 1963-64, as they were deemed trading transactions. Conversely, profits from transactions in shares of Century Spinning and Weaving Company Ltd. were not considered trading transactions for the same assessment years, leading to a ruling in favor of the assessee-company. The High Court's decision was based on the nature of the transactions and the application of relevant legal tests. Case-Laws Income Tax Mon, 05 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27214