https://www.taxtmi.com/caselaws?id=251333 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, determining that the income from share transactions should be classified as 'short term capital gains' rather than 'business income'. The ITAT considered factors such as the assessee's intention, treatment of shares in the books of accounts, and consistency in declaring income as capital gains in previous years. The appeal was allowed based on the finding that the transactions were in the nature of investments, not business activities. The decision was pronounced on 5th September 2014. en-us Fri, 05 Sep 2014 00:00:00 +0530 Thu, 11 Sep 2014 08:20:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251333 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, determining that the income from share transactions should be classified as 'short term capital gains' rather than 'business income'. The ITAT considered factors such as the assessee's intention, treatment of shares in the books of accounts, and consistency in declaring income as capital gains in previous years. The appeal was allowed based on the finding that the transactions were in the nature of investments, not business activities. The decision was pronounced on 5th September 2014. Case-Laws Income Tax Fri, 05 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251333