https://www.taxtmi.com/caselaws?id=221982 The ITAT upheld the CIT(A)'s decision that the gain from the sale of shares should be classified as long term capital gains (LTCG). The ITAT determined that the date of acquisition of shares as stock in trade should be considered for computing LTCG, rejecting the department's argument based on the holding period after conversion to investment. The appeal by the department was dismissed, affirming the classification of the gain as LTCG in favor of the assessee. en-us Wed, 13 Feb 2013 00:00:00 +0530 Mon, 08 Apr 2013 18:21:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221982 The ITAT upheld the CIT(A)'s decision that the gain from the sale of shares should be classified as long term capital gains (LTCG). The ITAT determined that the date of acquisition of shares as stock in trade should be considered for computing LTCG, rejecting the department's argument based on the holding period after conversion to investment. The appeal by the department was dismissed, affirming the classification of the gain as LTCG in favor of the assessee. Case-Laws Income Tax Wed, 13 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221982