Supreme Court Dismisses Assessee's Appeal in Income Tax Matter — Profit on Sale of Shares Held as Business Income and Not Capital Accretion. The Profit from Sale of Shares Held as Stock-in-Trade is Taxable as Business Income under the Indian Income-tax Act, 1922, Even If Part of Sale Price Attributable to Controlling Interest.
28 Nov 1967The assessee, a private limited company, was engaged in share trading. From 1942 to 1948, it regularly dealt in shares of Elphinstone Mills, treating ...
