Despite Loan at High Rate of Interest, Share capital Gain can not be treated as Business Profit

Merely because the shares had been purchased from borrowed funds obtained on high rate of interest would not change the nature of the transaction from investment to one in the nature of an “adventure in the nature of trade. A  capital investment and resale do not lose their capital nature merely because the resale was foreseen and contemplated when the investment was made and the possibility of enhanced values motivated the investment. _________________________________ IN THE HIGH COURT OF GUJARAT AT AHMEDABAD TAX APPEAL No. 836 of 2009 HONORABLE MR. JUSTICE D.A.MEHTA HONOURABLE MS.JUSTIC...