https://www.taxtmi.com/caselaws?id=49472 Characterisation of loss on sale of shares was determined by the intention behind acquisition, surrounding factual matrix, and established authorities distinguishing capital and revenue losses; the shares were acquired as a block at a premium to market to secure effective control and managerial/agency benefits, and inter-company transfers and appointments showed an enduring interest rather than ordinary trading. The Tribunal's factual findings of centrally arranged group transactions and intent to confer enduring benefits were applied to conclude the loss is capital in nature, and the appellate challenge against that characterisation was rejected in favour of the revenue. en-us Mon, 29 Jan 1962 00:00:00 +0530 Tue, 20 Nov 2018 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49472 Characterisation of loss on sale of shares was determined by the intention behind acquisition, surrounding factual matrix, and established authorities distinguishing capital and revenue losses; the shares were acquired as a block at a premium to market to secure effective control and managerial/agency benefits, and inter-company transfers and appointments showed an enduring interest rather than ordinary trading. The Tribunal's factual findings of centrally arranged group transactions and intent to confer enduring benefits were applied to conclude the loss is capital in nature, and the appellate challenge against that characterisation was rejected in favour of the revenue. Case-Laws Income Tax Mon, 29 Jan 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49472