https://www.taxtmi.com/caselaws?id=250695 Where an assessee maintains separate investment and trading portfolios, shares acquired pursuant to board resolutions for investment, recorded in the investment register and held in the demat investment portfolio, are to be treated as investments. The limited number of companies involved, the consistent treatment in earlier years, and the absence of dividend or a short holding period did not, by themselves, justify reclassifying the holdings as stock-in-trade. The Delhi HC accordingly upheld assessment of the sale proceeds as short-term capital gains and not business income, sustaining the Tribunal's view against the Revenue's challenge. en-us Wed, 06 Aug 2014 00:00:00 +0530 Wed, 18 Feb 2015 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250695 Where an assessee maintains separate investment and trading portfolios, shares acquired pursuant to board resolutions for investment, recorded in the investment register and held in the demat investment portfolio, are to be treated as investments. The limited number of companies involved, the consistent treatment in earlier years, and the absence of dividend or a short holding period did not, by themselves, justify reclassifying the holdings as stock-in-trade. The Delhi HC accordingly upheld assessment of the sale proceeds as short-term capital gains and not business income, sustaining the Tribunal's view against the Revenue's challenge. Case-Laws Income Tax Wed, 06 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250695