https://www.taxtmi.com/caselaws?id=28385 The court determined that the shares received by the assessee on the dissolution of the firm were capital assets, not stock-in-trade. The sale of one-third of the shareholdings to the Government was considered a sale, not a conditional sale. The loss of Rs. 2,25,690 from the sale was classified as a capital loss. The case outcome favored the Department, and the request for leave to appeal to the Supreme Court was denied due to the absence of a substantial question of law of general importance. en-us Thu, 02 Dec 1982 00:00:00 +0530 Mon, 22 Feb 2010 11:42:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28385 The court determined that the shares received by the assessee on the dissolution of the firm were capital assets, not stock-in-trade. The sale of one-third of the shareholdings to the Government was considered a sale, not a conditional sale. The loss of Rs. 2,25,690 from the sale was classified as a capital loss. The case outcome favored the Department, and the request for leave to appeal to the Supreme Court was denied due to the absence of a substantial question of law of general importance. Case-Laws Income Tax Thu, 02 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28385