https://www.taxtmi.com/caselaws?id=204329 The Tribunal held that income from the sale of shares held as investments should be treated as short-term capital gain and not as business income. The CIT(A)'s bifurcation based on a 30-day holding period was deemed incorrect. Regarding derivative transaction losses, the Tribunal decided in favor of the assessee, treating them as business losses for the entire assessment year 2006-07. As a result, the appeals and cross objections filed by the assessee were allowed, while the revenue's appeals were dismissed. en-us Wed, 15 Jun 2011 00:00:00 +0530 Thu, 14 Jul 2011 23:50:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204329 The Tribunal held that income from the sale of shares held as investments should be treated as short-term capital gain and not as business income. The CIT(A)'s bifurcation based on a 30-day holding period was deemed incorrect. Regarding derivative transaction losses, the Tribunal decided in favor of the assessee, treating them as business losses for the entire assessment year 2006-07. As a result, the appeals and cross objections filed by the assessee were allowed, while the revenue's appeals were dismissed. Case-Laws Income Tax Wed, 15 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204329