https://www.taxtmi.com/caselaws?id=216877 The Tribunal classified the profits from share transactions as business income rather than short-term capital gains. The Tribunal rejected the assessee's argument that the shares were held for investment purposes, emphasizing the high volume of trades and quick turnover of shares as indicative of trading activity. The Tribunal upheld the Assessing Officer's decision, dismissing the assessee's appeal and allowing the department's appeal on 4th July 2012. en-us Wed, 04 Jul 2012 00:00:00 +0530 Mon, 24 Sep 2012 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216877 The Tribunal classified the profits from share transactions as business income rather than short-term capital gains. The Tribunal rejected the assessee's argument that the shares were held for investment purposes, emphasizing the high volume of trades and quick turnover of shares as indicative of trading activity. The Tribunal upheld the Assessing Officer's decision, dismissing the assessee's appeal and allowing the department's appeal on 4th July 2012. Case-Laws Income Tax Wed, 04 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216877