https://www.taxtmi.com/caselaws?id=123067 The Tribunal ruled in favor of the assessee on both issues. For the first issue, it maintained the treatment of share trading income as short-term capital gain rather than business income, citing consistency with previous assessments and relevant case law. For the second issue, the Tribunal remitted the matter concerning the set-off of short-term capital loss on mutual funds against short-term capital gain on shares back to the Assessing Officer for reconsideration, ensuring the assessee's right to a hearing. Both issues were allowed for statistical purposes, with directions for proper tax compliance verification. en-us Tue, 28 Apr 2009 00:00:00 +0530 Wed, 18 Oct 2023 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123067 The Tribunal ruled in favor of the assessee on both issues. For the first issue, it maintained the treatment of share trading income as short-term capital gain rather than business income, citing consistency with previous assessments and relevant case law. For the second issue, the Tribunal remitted the matter concerning the set-off of short-term capital loss on mutual funds against short-term capital gain on shares back to the Assessing Officer for reconsideration, ensuring the assessee's right to a hearing. Both issues were allowed for statistical purposes, with directions for proper tax compliance verification. Case-Laws Income Tax Tue, 28 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123067