https://www.taxtmi.com/caselaws?id=213581 The Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal and upheld the Commissioner of Income-tax (Appeals) [CIT(A)]'s decision to treat the income from the sale of shares as short-term and long-term capital gains instead of business income. The ITAT emphasized the significance of consistency, the assessee's intention at the time of purchase, the treatment in books of accounts, and the frequency of transactions in determining the nature of income. The ITAT highlighted the principle of consistency and previous accepted practices in similar cases to support its decision. en-us Mon, 31 Oct 2011 00:00:00 +0530 Wed, 13 Apr 2016 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213581 The Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal and upheld the Commissioner of Income-tax (Appeals) [CIT(A)]'s decision to treat the income from the sale of shares as short-term and long-term capital gains instead of business income. The ITAT emphasized the significance of consistency, the assessee's intention at the time of purchase, the treatment in books of accounts, and the frequency of transactions in determining the nature of income. The ITAT highlighted the principle of consistency and previous accepted practices in similar cases to support its decision. Case-Laws Income Tax Mon, 31 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213581