https://www.taxtmi.com/caselaws?id=212556 The Tribunal concluded that the income from the purchase and sale of shares held as investments should be assessed as capital gains and not as business income. The Tribunal emphasized the importance of the assessee's intention at the time of purchase, the consistent treatment of shares as investments, and the absence of borrowed funds for these transactions. The Tribunal dismissed the revenue's appeal and allowed the assessee's appeal, thereby classifying the income from share transactions as short-term capital gain rather than business income for both AY 2005-06 and AY 2006-07. en-us Fri, 25 Nov 2011 00:00:00 +0530 Tue, 20 Nov 2012 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212556 The Tribunal concluded that the income from the purchase and sale of shares held as investments should be assessed as capital gains and not as business income. The Tribunal emphasized the importance of the assessee's intention at the time of purchase, the consistent treatment of shares as investments, and the absence of borrowed funds for these transactions. The Tribunal dismissed the revenue's appeal and allowed the assessee's appeal, thereby classifying the income from share transactions as short-term capital gain rather than business income for both AY 2005-06 and AY 2006-07. Case-Laws Income Tax Fri, 25 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212556