https://www.taxtmi.com/caselaws?id=258872 The Court upheld the CIT(A)'s decision to treat income from share sales as capital gains, not business income. The assessee's shares were considered investments based on various factors, including balance sheet classification and valuation method. Lack of evidence from the AO to counter this classification and past acceptance of similar treatment were crucial. The principle of consistency was emphasized, leading to the dismissal of the revenue's appeals. The judgment was delivered on 02.03.2015. en-us Mon, 02 Mar 2015 00:00:00 +0530 Thu, 20 Aug 2015 18:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258872 The Court upheld the CIT(A)'s decision to treat income from share sales as capital gains, not business income. The assessee's shares were considered investments based on various factors, including balance sheet classification and valuation method. Lack of evidence from the AO to counter this classification and past acceptance of similar treatment were crucial. The principle of consistency was emphasized, leading to the dismissal of the revenue's appeals. The judgment was delivered on 02.03.2015. Case-Laws Income Tax Mon, 02 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258872