https://www.taxtmi.com/caselaws?id=241602 The ITAT allowed the Revenue's appeal, directing the AO to reassess the tax treatment of Short Term Capital Gain based on holding period criteria. The decision emphasized considering intention behind transactions, frequency of trades, and holding period to differentiate between business income and capital gains in share transactions. Clear records and evidence are crucial to support the nature of share holdings for tax purposes. en-us Fri, 08 Feb 2013 00:00:00 +0530 Sat, 09 Nov 2013 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241602 The ITAT allowed the Revenue's appeal, directing the AO to reassess the tax treatment of Short Term Capital Gain based on holding period criteria. The decision emphasized considering intention behind transactions, frequency of trades, and holding period to differentiate between business income and capital gains in share transactions. Clear records and evidence are crucial to support the nature of share holdings for tax purposes. Case-Laws Income Tax Fri, 08 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241602