1975 (7) TMI 2 - SUPREME COURT

Whether the inference of the Tribunal that the profit arising from the sale of shares is assessable as business profit is correct - finding that loss or profit is a trading loss or profit is primarily a finding of fact, though in reaching that finding the Tribunal has to apply the correct test laid down by law. When we see that the Tribunal has considered the evidence on record and applied the correct test, there is no scope for interference with the finding of the Tribunal