https://www.taxtmi.com/caselaws?id=254223 The High Court upheld the decision of the Appellate Tribunal and the CIT (Appeals) in a case concerning the classification of the sale of shares by the respondent assessee as business income or capital gains. The Court found that the shares were held as capital assets, not stock in trade, entitling the assessee to exemption under Section 10(38) of the Income Tax Act. The Court dismissed the appellant's appeal, stating that no substantial questions of law arose and there was no merit in interfering with the Tribunal's order. en-us Wed, 03 Dec 2014 00:00:00 +0530 Tue, 16 Dec 2014 06:29:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254223 The High Court upheld the decision of the Appellate Tribunal and the CIT (Appeals) in a case concerning the classification of the sale of shares by the respondent assessee as business income or capital gains. The Court found that the shares were held as capital assets, not stock in trade, entitling the assessee to exemption under Section 10(38) of the Income Tax Act. The Court dismissed the appellant's appeal, stating that no substantial questions of law arose and there was no merit in interfering with the Tribunal's order. Case-Laws Income Tax Wed, 03 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254223