https://www.taxtmi.com/caselaws?id=209892 Profits from share transactions were treated as capital gains because the assessee's intention at acquisition, assessed from surrounding facts and conduct, indicated investment rather than trading. The books reflected only an investment portfolio from incorporation, shares were valued at cost, no borrowings were used for purchase, there was no intraday or derivatives activity, and the holdings were delivery-based and retained for substantial periods. The cumulative pattern of dealing, together with consistent past treatment, supported capital gains classification and not business income. en-us Mon, 30 May 2011 00:00:00 +0530 Mon, 08 Jul 2013 19:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209892 Profits from share transactions were treated as capital gains because the assessee's intention at acquisition, assessed from surrounding facts and conduct, indicated investment rather than trading. The books reflected only an investment portfolio from incorporation, shares were valued at cost, no borrowings were used for purchase, there was no intraday or derivatives activity, and the holdings were delivery-based and retained for substantial periods. The cumulative pattern of dealing, together with consistent past treatment, supported capital gains classification and not business income. Case-Laws Income Tax Mon, 30 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209892