https://www.taxtmi.com/caselaws?id=251406 The High Court upheld the Tribunal's decision that the share transactions were correctly treated as capital gains, dismissing the appeal as no substantial legal question arose. The penalty imposed under Section 271(1)(c) was deleted, as the assessee had disclosed all relevant details, maintaining a clear separation between investments and stock-in-trade. The Court found the assessee's explanation bona fide, with no concealment of income or furnishing of inaccurate particulars, and thus dismissed the appeal without costs. en-us Thu, 04 Sep 2014 00:00:00 +0530 Sat, 13 Sep 2014 11:49:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251406 The High Court upheld the Tribunal's decision that the share transactions were correctly treated as capital gains, dismissing the appeal as no substantial legal question arose. The penalty imposed under Section 271(1)(c) was deleted, as the assessee had disclosed all relevant details, maintaining a clear separation between investments and stock-in-trade. The Court found the assessee's explanation bona fide, with no concealment of income or furnishing of inaccurate particulars, and thus dismissed the appeal without costs. Case-Laws Income Tax Thu, 04 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251406