https://www.taxtmi.com/caselaws?id=35822 The High Court held that income from share transactions should be taxed as business income rather than income from other sources. The Court emphasized the continuous exercise of activity with a profit motive and the importance of volition in transactions. It disagreed with the Tribunal's finding that the transactions were not voluntary sales, stating that the agreements were made by the involved companies. The Court clarified the distinction between business income and income from other sources in share transactions, ruling in favor of the assessee and awarding costs. en-us Wed, 19 Dec 1979 00:00:00 +0530 Tue, 16 Aug 2016 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35822 The High Court held that income from share transactions should be taxed as business income rather than income from other sources. The Court emphasized the continuous exercise of activity with a profit motive and the importance of volition in transactions. It disagreed with the Tribunal's finding that the transactions were not voluntary sales, stating that the agreements were made by the involved companies. The Court clarified the distinction between business income and income from other sources in share transactions, ruling in favor of the assessee and awarding costs. Case-Laws Income Tax Wed, 19 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35822