https://www.taxtmi.com/caselaws?id=259954 The High Court affirmed the Tribunal's decision, dismissing the appeal and upholding the treatment of capital gains as either short-term or long-term based on accounting standards. The Court rejected the assessing officer's argument that the gains should be treated as business income due to profit motive, emphasizing the subjective nature of motive. The Court distinguished a cited case involving shares dealt as stock-in-trade, clarifying that the present case involved investments. The Court found the Tribunal's view reasonable and emphasized the importance of factual distinctions in determining income nature. en-us Tue, 12 May 2015 00:00:00 +0530 Sat, 07 Nov 2015 16:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259954 The High Court affirmed the Tribunal's decision, dismissing the appeal and upholding the treatment of capital gains as either short-term or long-term based on accounting standards. The Court rejected the assessing officer's argument that the gains should be treated as business income due to profit motive, emphasizing the subjective nature of motive. The Court distinguished a cited case involving shares dealt as stock-in-trade, clarifying that the present case involved investments. The Court found the Tribunal's view reasonable and emphasized the importance of factual distinctions in determining income nature. Case-Laws Income Tax Tue, 12 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259954