https://www.taxtmi.com/caselaws?id=209133 ITAT Ahmedabad held that profits from sale of shares held for more than 366 days constituted long-term capital gains, not business income, as the shares were consistently reflected as investments in the balance sheet, dividend income was earned and disclosed, and the Revenue had accepted such treatment in earlier years. The order of the CIT(A) treating Rs. 37,52,281 as long-term capital gain was affirmed. For other shares, the Tribunal held the assessee to be partly an investor and partly a trader: gains from shares held for more than one month are to be assessed as short-term capital gains, while gains from shares held for less than one month are to be treated as business income, with directions to recompute accordingly. en-us Fri, 29 Jan 2010 00:00:00 +0530 Mon, 01 Dec 2025 15:29:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209133 ITAT Ahmedabad held that profits from sale of shares held for more than 366 days constituted long-term capital gains, not business income, as the shares were consistently reflected as investments in the balance sheet, dividend income was earned and disclosed, and the Revenue had accepted such treatment in earlier years. The order of the CIT(A) treating Rs. 37,52,281 as long-term capital gain was affirmed. For other shares, the Tribunal held the assessee to be partly an investor and partly a trader: gains from shares held for more than one month are to be assessed as short-term capital gains, while gains from shares held for less than one month are to be treated as business income, with directions to recompute accordingly. Case-Laws Income Tax Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209133