https://www.taxtmi.com/caselaws?id=119739 The ITAT ruled in favor of the appellant on key issues, directing the AO to allow the set-off of long-term capital loss against short-term capital gains and to treat short-term capital gains as such, not as business profits. The Tribunal recognized the appellant as an investor in shares, emphasizing the intention to hold shares as investments. However, the Tribunal did not provide relief on additional grounds of appeal and dismissed the issue of charging interest under sections 234B and 234C of the Income-tax Act as consequential, resulting in a partial allowance of the appeal. en-us Tue, 19 Dec 2006 00:00:00 +0530 Tue, 27 Feb 2024 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119739 The ITAT ruled in favor of the appellant on key issues, directing the AO to allow the set-off of long-term capital loss against short-term capital gains and to treat short-term capital gains as such, not as business profits. The Tribunal recognized the appellant as an investor in shares, emphasizing the intention to hold shares as investments. However, the Tribunal did not provide relief on additional grounds of appeal and dismissed the issue of charging interest under sections 234B and 234C of the Income-tax Act as consequential, resulting in a partial allowance of the appeal. Case-Laws Income Tax Tue, 19 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119739