https://www.taxtmi.com/caselaws?id=244565 The ITAT upheld the CIT(A) order, ruling that the entire sale consideration from the shares should be treated as long-term capital gains, not business income. The decision was based on the increasing share value, negotiations with the foreign investor, and the absence of business activity by the assessee. The ITAT confirmed the exemption under section 54F and dismissed the Revenue's appeal. en-us Wed, 19 Feb 2014 00:00:00 +0530 Sat, 01 Mar 2014 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244565 The ITAT upheld the CIT(A) order, ruling that the entire sale consideration from the shares should be treated as long-term capital gains, not business income. The decision was based on the increasing share value, negotiations with the foreign investor, and the absence of business activity by the assessee. The ITAT confirmed the exemption under section 54F and dismissed the Revenue's appeal. Case-Laws Income Tax Wed, 19 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244565