https://www.taxtmi.com/caselaws?id=214557 The case involved a dispute over categorizing income from share sales as business profit or capital gains. The Assessing Officer deemed it as business income due to transaction frequency, but the CIT(A) found the shares were held for investment based on dividend income and delivery of shares, treating the profit as capital gains. The CIT(A) emphasized delivery-based transactions and consistency in treatment, directing the income to be treated as capital gains. The ITAT upheld this decision, dismissing the Revenue's appeal for consistency in share transaction treatment. en-us Fri, 22 Jun 2012 00:00:00 +0530 Fri, 06 Jul 2012 07:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214557 The case involved a dispute over categorizing income from share sales as business profit or capital gains. The Assessing Officer deemed it as business income due to transaction frequency, but the CIT(A) found the shares were held for investment based on dividend income and delivery of shares, treating the profit as capital gains. The CIT(A) emphasized delivery-based transactions and consistency in treatment, directing the income to be treated as capital gains. The ITAT upheld this decision, dismissing the Revenue's appeal for consistency in share transaction treatment. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214557