https://www.taxtmi.com/caselaws?id=237016 The Tribunal held that the income from the purchase and sale of shares should be classified as business income rather than Short Term Capital Gains (STCG). The Tribunal emphasized the assessee's conduct, including the high volume and frequency of transactions, indicating a business intent for quick profits. The Tribunal overturned the CIT(A)'s decision and reinstated the Assessing Officer's classification of the entire STCG as business income. The appeal was decided on 10.07.2013. en-us Wed, 10 Jul 2013 00:00:00 +0530 Mon, 16 Sep 2013 09:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237016 The Tribunal held that the income from the purchase and sale of shares should be classified as business income rather than Short Term Capital Gains (STCG). The Tribunal emphasized the assessee's conduct, including the high volume and frequency of transactions, indicating a business intent for quick profits. The Tribunal overturned the CIT(A)'s decision and reinstated the Assessing Officer's classification of the entire STCG as business income. The appeal was decided on 10.07.2013. Case-Laws Income Tax Wed, 10 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237016