https://www.taxtmi.com/caselaws?id=38886 The court ruled against the assessee on both issues, denying depreciation on the acquired share in S. B. Sugar Mills, Bijnor, and affirming the characterization of the loss on the sale of shares of M/s. Jaswant Sugar Mills Ltd. as a capital loss. The court upheld the Tribunal's decision, emphasizing that the shares were held as investments and not as stock-in-trade, constituting an isolated transaction rather than a trade venture. Costs were awarded to the department, and the counsel's fee was assessed accordingly. en-us Fri, 29 Apr 1977 00:00:00 +0530 Sat, 10 Apr 2010 12:02:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38886 The court ruled against the assessee on both issues, denying depreciation on the acquired share in S. B. Sugar Mills, Bijnor, and affirming the characterization of the loss on the sale of shares of M/s. Jaswant Sugar Mills Ltd. as a capital loss. The court upheld the Tribunal's decision, emphasizing that the shares were held as investments and not as stock-in-trade, constituting an isolated transaction rather than a trade venture. Costs were awarded to the department, and the counsel's fee was assessed accordingly. Case-Laws Income Tax Fri, 29 Apr 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38886