Supreme Court Upholds Commissioner of Income-tax in Adventure in Nature of Trade Case Involving Share Sale Profits. Finding that Purchase and Sale of 13,74,000 Shares Was Trading Venture Based on Intention to Sell from Outset; Profit Taxable Under Indian Income-tax Act, Section 4(3)(vii)....
The assessee company was incorporated on May 6, 1943, with a paid-up capital of Rs. 20 lakhs, promoted by the Morarka Group and the Bubna Group to acquire the Managing Agency of Apollo Mills Co. Ltd. ...




