https://www.taxtmi.com/caselaws?id=256778 The High Court ruled in favor of the Revenue and against the Assessee, holding that short-term capital gains do not qualify as investment income under Section 115E of the Income Tax Act, 1961. The Court concluded that the income arising from the sale of bonus shares, resulting in short-term capital gains, does not meet the criteria for the concessional tax rate of 20%. The appeal was allowed, and the ITAT's decision was overturned. en-us Wed, 18 Feb 2015 00:00:00 +0530 Wed, 12 Aug 2015 18:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256778 The High Court ruled in favor of the Revenue and against the Assessee, holding that short-term capital gains do not qualify as investment income under Section 115E of the Income Tax Act, 1961. The Court concluded that the income arising from the sale of bonus shares, resulting in short-term capital gains, does not meet the criteria for the concessional tax rate of 20%. The appeal was allowed, and the ITAT's decision was overturned. Case-Laws Income Tax Wed, 18 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256778