https://www.taxtmi.com/caselaws?id=220209 Where an assessee maintains distinct investment and trading portfolios, gains from shares held in the investment portfolio are taxable as capital gains and not as business income. The CBDT circular recognised that separate portfolios may be maintained and may give rise to income under different heads. On the facts, separate investment and trading accounts, demat and bank accounts, together with the revenue's accepted past treatment, supported the finding that the disputed shares belonged to the investment portfolio. The Tribunal's view was upheld and the revenue's challenge failed. en-us Wed, 09 Jan 2013 00:00:00 +0530 Sat, 07 Jun 2014 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220209 Where an assessee maintains distinct investment and trading portfolios, gains from shares held in the investment portfolio are taxable as capital gains and not as business income. The CBDT circular recognised that separate portfolios may be maintained and may give rise to income under different heads. On the facts, separate investment and trading accounts, demat and bank accounts, together with the revenue's accepted past treatment, supported the finding that the disputed shares belonged to the investment portfolio. The Tribunal's view was upheld and the revenue's challenge failed. Case-Laws Income Tax Wed, 09 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220209