Case Law Details
Case Name : Commissioner Of Income Tax-I Vs Niraj Amidhar Surti (Gujarat High Court)
Appeal Number : Appeal No. 836 of 2009
Date of Judgement/Order : 21/10/2010
Related Assessment Year :
Courts :
All High Courts Gujarat High Court
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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.
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IN THE HIGH COURT OF GUJARAT AT AHMEDABAD TAX
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