https://www.taxtmi.com/caselaws?id=209025 The Tribunal ruled in favor of the assessee, determining that gains from the sale of shares should be treated as capital gains and not business income. The Tribunal considered factors such as the intention behind the acquisition, treatment of assets in the books, and the nature of transactions to conclude that the investments were not for trading purposes. Consequently, the assessee's appeal was allowed, and the disallowance of depreciation was likely overturned as well, although not explicitly discussed in the judgment. en-us Fri, 15 Oct 2010 00:00:00 +0530 Thu, 01 Aug 2013 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209025 The Tribunal ruled in favor of the assessee, determining that gains from the sale of shares should be treated as capital gains and not business income. The Tribunal considered factors such as the intention behind the acquisition, treatment of assets in the books, and the nature of transactions to conclude that the investments were not for trading purposes. Consequently, the assessee's appeal was allowed, and the disallowance of depreciation was likely overturned as well, although not explicitly discussed in the judgment. Case-Laws Income Tax Fri, 15 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209025