https://www.taxtmi.com/caselaws?id=29151 The High Court affirmed the Tribunal's decision that the surplus from the sale of shares by Dr. and Mrs. Ghosh should be classified as capital gains and not business income. The Court agreed that the transactions were not an adventure in the nature of trade, emphasizing the genuine business necessity and non-speculative nature of the transactions. The Court held that the presence of an intention to resell does not automatically indicate a trading venture, and the Tribunal correctly applied legal principles in classifying the surplus as capital gains. en-us Mon, 22 Sep 1980 00:00:00 +0530 Thu, 11 Mar 2010 11:35:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29151 The High Court affirmed the Tribunal's decision that the surplus from the sale of shares by Dr. and Mrs. Ghosh should be classified as capital gains and not business income. The Court agreed that the transactions were not an adventure in the nature of trade, emphasizing the genuine business necessity and non-speculative nature of the transactions. The Court held that the presence of an intention to resell does not automatically indicate a trading venture, and the Tribunal correctly applied legal principles in classifying the surplus as capital gains. Case-Laws Income Tax Mon, 22 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29151