https://www.taxtmi.com/caselaws?id=259920 The case involved a dispute over the treatment of short-term capital gains as business income for the assessment years 2005-06 and 2006-07. The appellate authority ruled in favor of the assessee, emphasizing the motive of purchase over the timing of sale in determining the nature of the transaction. Despite arguments by the appellant's advocate regarding the frequency of transactions and income sources, the Tribunal upheld the assessee's position. The Court found no perversity in the Tribunal's decision and dismissed the appeal, highlighting the need for the Revenue to demonstrate legal impossibility in the findings, which was lacking in this case. 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 The case involved a dispute over the treatment of short-term capital gains as business income for the assessment years 2005-06 and 2006-07. The appellate authority ruled in favor of the assessee, emphasizing the motive of purchase over the timing of sale in determining the nature of the transaction. Despite arguments by the appellant's advocate regarding the frequency of transactions and income sources, the Tribunal upheld the assessee's position. The Court found no perversity in the Tribunal's decision and dismissed the appeal, highlighting the need for the Revenue to demonstrate legal impossibility in the findings, which was lacking in this case. Case-Laws Income Tax Tue, 12 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259920