https://www.taxtmi.com/caselaws?id=236718 The Tribunal set aside the CIT(A)'s decision and upheld the Assessing Officer's treatment of income from the purchase and sale of shares as business income under Section 28 of the Income-tax Act. The Tribunal considered factors such as the high stock-turnover ratio, nature of the business, and intention behind the transactions in determining that the income should be classified as business income. The Department's appeal was allowed, and the decision was rendered on 08/02/2013. en-us Fri, 08 Feb 2013 00:00:00 +0530 Fri, 25 Mar 2016 14:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236718 The Tribunal set aside the CIT(A)'s decision and upheld the Assessing Officer's treatment of income from the purchase and sale of shares as business income under Section 28 of the Income-tax Act. The Tribunal considered factors such as the high stock-turnover ratio, nature of the business, and intention behind the transactions in determining that the income should be classified as business income. The Department's appeal was allowed, and the decision was rendered on 08/02/2013. Case-Laws Income Tax Fri, 08 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236718