https://www.taxtmi.com/caselaws?id=215711 The Tribunal upheld the income classification as business income for the assessment year 2006-07, despite the initial declaration as capital gains. The decision emphasized the organized nature of share transactions and quick profit-making activities, indicating trading rather than investment. The Tribunal directed the AO to allow a deduction for Security Transaction Tax (STT) but dismissed the assessee's appeal, confirming the income treatment as business income based on the actual conduct of the assessee and legal principles. en-us Fri, 15 Jun 2012 00:00:00 +0530 Wed, 08 Aug 2012 15:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215711 The Tribunal upheld the income classification as business income for the assessment year 2006-07, despite the initial declaration as capital gains. The decision emphasized the organized nature of share transactions and quick profit-making activities, indicating trading rather than investment. The Tribunal directed the AO to allow a deduction for Security Transaction Tax (STT) but dismissed the assessee's appeal, confirming the income treatment as business income based on the actual conduct of the assessee and legal principles. Case-Laws Income Tax Fri, 15 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215711