https://www.taxtmi.com/caselaws?id=215584 Profit from sale of shares held as investment was assessable as short-term capital gains where the assessee invested mainly through IPOs, held shares for a reasonable period, earned dividend income, and dealt only in delivery-based transactions. A profit motive by itself was not decisive for treating the activity as business income, and the record supported the existence of separate investment and trading portfolios. On those facts, the impugned gains arose from investment transactions rather than organised share trading, so they were correctly assessed as short-term capital gains and not as business income. en-us Tue, 12 Jun 2012 00:00:00 +0530 Sat, 04 Aug 2012 18:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215584 Profit from sale of shares held as investment was assessable as short-term capital gains where the assessee invested mainly through IPOs, held shares for a reasonable period, earned dividend income, and dealt only in delivery-based transactions. A profit motive by itself was not decisive for treating the activity as business income, and the record supported the existence of separate investment and trading portfolios. On those facts, the impugned gains arose from investment transactions rather than organised share trading, so they were correctly assessed as short-term capital gains and not as business income. Case-Laws Income Tax Tue, 12 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215584