https://www.taxtmi.com/caselaws?id=213060 The court ruled in favor of the assessee, holding that gains from the sale and purchase of securities should be classified as capital gains, not business income. The Assessing Officer's addition was deleted by the Tribunal and CIT(A), emphasizing that the shares were part of the investment portfolio, not for trading purposes. The court considered various legal principles and guidelines, including the assessee's intention and past conduct, to determine the nature of transactions. Ultimately, the court upheld the Tribunal's decision, rejecting the Revenue's claim and awarding no costs. en-us Fri, 27 Apr 2012 00:00:00 +0530 Mon, 07 May 2012 21:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213060 The court ruled in favor of the assessee, holding that gains from the sale and purchase of securities should be classified as capital gains, not business income. The Assessing Officer's addition was deleted by the Tribunal and CIT(A), emphasizing that the shares were part of the investment portfolio, not for trading purposes. The court considered various legal principles and guidelines, including the assessee's intention and past conduct, to determine the nature of transactions. Ultimately, the court upheld the Tribunal's decision, rejecting the Revenue's claim and awarding no costs. Case-Laws Income Tax Fri, 27 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213060