https://www.taxtmi.com/caselaws?id=30805 The High Court upheld the decision of the Income-tax Appellate Tribunal, ruling in favor of the assessee regarding the treatment of income from the purchase and sale of debentures and shares as business income. The Tribunal determined that the assessee-company's activities aligned with its main objective as an investment company, justifying the classification of the income as business income eligible for set off against carried forward losses. The High Court emphasized that the Tribunal's factual findings were within its jurisdiction, leading to the dismissal of the appeal without any substantial question of law. en-us Wed, 12 Apr 2006 00:00:00 +0530 Wed, 24 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30805 The High Court upheld the decision of the Income-tax Appellate Tribunal, ruling in favor of the assessee regarding the treatment of income from the purchase and sale of debentures and shares as business income. The Tribunal determined that the assessee-company's activities aligned with its main objective as an investment company, justifying the classification of the income as business income eligible for set off against carried forward losses. The High Court emphasized that the Tribunal's factual findings were within its jurisdiction, leading to the dismissal of the appeal without any substantial question of law. Case-Laws Income Tax Wed, 12 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30805