https://www.taxtmi.com/caselaws?id=247514 The High Court upheld the ITAT's decision to treat Rs.70,77,375 as long term capital gain under Section 10(38) of the Income Tax Act. The Court found that the assessee maintained separate portfolios for investment and business without intermingling shares, supported by consistent practices over the years. The High Court concluded that the ITAT's decision aligned with established legal principles and previous judgments, dismissing the Revenue's appeal for lack of merit and confirming the classification of income as long term capital gain. en-us Tue, 06 May 2014 00:00:00 +0530 Wed, 14 May 2014 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247514 The High Court upheld the ITAT's decision to treat Rs.70,77,375 as long term capital gain under Section 10(38) of the Income Tax Act. The Court found that the assessee maintained separate portfolios for investment and business without intermingling shares, supported by consistent practices over the years. The High Court concluded that the ITAT's decision aligned with established legal principles and previous judgments, dismissing the Revenue's appeal for lack of merit and confirming the classification of income as long term capital gain. Case-Laws Income Tax Tue, 06 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247514