https://www.taxtmi.com/caselaws?id=248313 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. The first issue regarding the deletion of addition of unaccounted purchases was resolved in favor of the assessee, as the transactions were off-market with no adverse material indicating wrongdoing. The second issue on the treatment of income as Short Term Capital Gain instead of business income was also decided in favor of the assessee, based on consistent treatment of transactions as investments and the use of own funds. The Tribunal found no grounds to interfere with the CIT(A)'s orders. en-us Thu, 22 May 2014 00:00:00 +0530 Mon, 09 Jun 2014 13:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248313 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. The first issue regarding the deletion of addition of unaccounted purchases was resolved in favor of the assessee, as the transactions were off-market with no adverse material indicating wrongdoing. The second issue on the treatment of income as Short Term Capital Gain instead of business income was also decided in favor of the assessee, based on consistent treatment of transactions as investments and the use of own funds. The Tribunal found no grounds to interfere with the CIT(A)'s orders. Case-Laws Income Tax Thu, 22 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248313