https://www.taxtmi.com/caselaws?id=212084 The Tribunal concluded that the income from the purchase and sale of shares should be treated as business income rather than capital gains. It found that the substantial volume of transactions, short holding period, and continuous increase in turnover indicated a trading activity. The Tribunal held that the conversion of stock-in-trade into investments was not genuine and emphasized that the nature of transactions over the years showed a pattern of trading rather than investment. The Tribunal overturned the CIT(A)'s decision and restored the Assessing Officer's order. en-us Tue, 31 Jan 2012 00:00:00 +0530 Fri, 13 Apr 2012 08:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212084 The Tribunal concluded that the income from the purchase and sale of shares should be treated as business income rather than capital gains. It found that the substantial volume of transactions, short holding period, and continuous increase in turnover indicated a trading activity. The Tribunal held that the conversion of stock-in-trade into investments was not genuine and emphasized that the nature of transactions over the years showed a pattern of trading rather than investment. The Tribunal overturned the CIT(A)'s decision and restored the Assessing Officer's order. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212084