Assessee's Stock Transactions Deemed Business, Not Capital Gain.

The Kerala HC upheld the Tribunal's decision that the purchase and sale of stock by the assessee is a business transaction, not the sale of a capital asset. The court found no substantial question of law as the department had previously accepted similar claims by the assessee. The appeal by the department was dismissed.

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The Kerala High Court upheld the Tribunal's decision that the purchase and sale of stock by the assessee is a business transaction, not the sale of a capital asset. The court found no substantial question of law as the department had previously accepted similar claims by the assessee. The appeal by the department was dismissed.

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