https://www.taxtmi.com/caselaws?id=244875 The Appellate Tribunal upheld the CIT(A)'s decision that income from the sale of shares held as investments should be categorized as capital gains, not business income, for the assessment year 2006-07. The Tribunal emphasized the lack of evidence supporting the Revenue's claim of trading activity and the consistent classification of shares as investments by the assessee. The appeal filed by the Revenue was dismissed, affirming the treatment of income from share sales as capital gains. en-us Wed, 26 Feb 2014 00:00:00 +0530 Tue, 11 Mar 2014 08:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244875 The Appellate Tribunal upheld the CIT(A)'s decision that income from the sale of shares held as investments should be categorized as capital gains, not business income, for the assessment year 2006-07. The Tribunal emphasized the lack of evidence supporting the Revenue's claim of trading activity and the consistent classification of shares as investments by the assessee. The appeal filed by the Revenue was dismissed, affirming the treatment of income from share sales as capital gains. Case-Laws Income Tax Wed, 26 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244875