https://www.taxtmi.com/caselaws?id=49687 Whether excess realizations on sale of shares constitute business receipts or capital accretions turned on the character of the original subscription: where the share subscription formed an integral, single indivisible arrangement to secure a managing agency (an enduring asset), the company had no business of dealing in shares and no initial intention to resell, and a subsequent resale compelled by contingency does not convert the investment into a trading adventure, the sums realised are accretions to capital and not taxable as revenue receipts. en-us Thu, 11 Nov 1954 00:00:00 +0530 Tue, 09 Sep 2014 09:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49687 Whether excess realizations on sale of shares constitute business receipts or capital accretions turned on the character of the original subscription: where the share subscription formed an integral, single indivisible arrangement to secure a managing agency (an enduring asset), the company had no business of dealing in shares and no initial intention to resell, and a subsequent resale compelled by contingency does not convert the investment into a trading adventure, the sums realised are accretions to capital and not taxable as revenue receipts. Case-Laws Income Tax Thu, 11 Nov 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49687