https://www.taxtmi.com/caselaws?id=212088 The court determined the appropriate head of income for taxing the surplus realized on the sale of shares and redemption of mutual fund units. For assessment year 2006-07, the surplus was classified as business income. In assessment year 2007-08, the sale of bonus shares was treated as capital gains, while other transactions were considered business income. In assessment year 2008-09, the sale of bonus shares was also classified as capital gains, with other transactions treated as business income. en-us Wed, 22 Feb 2012 00:00:00 +0530 Mon, 18 Apr 2016 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212088 The court determined the appropriate head of income for taxing the surplus realized on the sale of shares and redemption of mutual fund units. For assessment year 2006-07, the surplus was classified as business income. In assessment year 2007-08, the sale of bonus shares was treated as capital gains, while other transactions were considered business income. In assessment year 2008-09, the sale of bonus shares was also classified as capital gains, with other transactions treated as business income. Case-Laws Income Tax Wed, 22 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212088