https://www.taxtmi.com/caselaws?id=259920 Income from share transactions was assessed as short-term capital gain rather than business income because the factual matrix, including the nature of the transactions, book treatment and purchase intention, supported the assessee's classification. The High Court held that the concurrent findings of the appellate authority and Tribunal accepting the bifurcation between investment, business and speculative transactions were based on evidence and were a possible view. Frequency and volume of transactions, by themselves, were not decisive, and no material issue was left undecided. The finding that the income was short-term capital gain was therefore not perverse and the challenge failed. en-us Tue, 12 May 2015 00:00:00 +0530 Tue, 11 Aug 2015 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259920 Income from share transactions was assessed as short-term capital gain rather than business income because the factual matrix, including the nature of the transactions, book treatment and purchase intention, supported the assessee's classification. The High Court held that the concurrent findings of the appellate authority and Tribunal accepting the bifurcation between investment, business and speculative transactions were based on evidence and were a possible view. Frequency and volume of transactions, by themselves, were not decisive, and no material issue was left undecided. The finding that the income was short-term capital gain was therefore not perverse and the challenge failed. Case-Laws Income Tax Tue, 12 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259920