https://www.taxtmi.com/article/detailed?id=272 Whether gains on sale of shares are taxable as capital gains or business income depends on their characterisation as capital asset or stock-in-trade. STT and related income tax relaxations allow taxpayers to change holding and accounting policies legitimately; absent treatment as stock-in-trade in books, shares and similar securities are prima facie capital assets. Volume and frequency alone do not convert investment into business income, and the Assessing Officer cannot reclassify disclosed capital assets as stock-in-trade. en-us Sun, 25 Jan 2009 00:00:00 +0530 Tue, 27 Jan 2009 08:05:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=272 Whether gains on sale of shares are taxable as capital gains or business income depends on their characterisation as capital asset or stock-in-trade. STT and related income tax relaxations allow taxpayers to change holding and accounting policies legitimately; absent treatment as stock-in-trade in books, shares and similar securities are prima facie capital assets. Volume and frequency alone do not convert investment into business income, and the Assessing Officer cannot reclassify disclosed capital assets as stock-in-trade. Articles Income Tax Sun, 25 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=272