https://www.taxtmi.com/caselaws?id=49661 A finding that an assessee was a dealer in investments and properties, and that gains from sale of shares, securities and immovable property were business profits, can raise questions of law where the Tribunal has treated the issue as concluded by isolated factors rather than the totality of relevant facts. A mixed question of law and fact is reviewable if it is unsupported by evidence, perverse, or based on irrelevant considerations or ignored material. The legal character of transactions must be determined from the whole record, not merely from the memorandum of association or earlier assertions. The Court therefore held that questions of law arose and remitted the matter for a stated case. en-us Wed, 22 May 1957 00:00:00 +0530 Fri, 04 Sep 2015 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49661 A finding that an assessee was a dealer in investments and properties, and that gains from sale of shares, securities and immovable property were business profits, can raise questions of law where the Tribunal has treated the issue as concluded by isolated factors rather than the totality of relevant facts. A mixed question of law and fact is reviewable if it is unsupported by evidence, perverse, or based on irrelevant considerations or ignored material. The legal character of transactions must be determined from the whole record, not merely from the memorandum of association or earlier assertions. The Court therefore held that questions of law arose and remitted the matter for a stated case. Case-Laws Income Tax Wed, 22 May 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49661