https://www.taxtmi.com/caselaws?id=260054 The Tribunal upheld the CIT (A)'s decisions in favor of the assessee, classifying income from share transactions as capital gains rather than business income. The Explanation to section 73 was deemed not applicable as the assessee's principal business was granting loans. Interest income was classified as business income due to the assessee's activities as an NBFC. Income from transfer of property rights was treated as short-term capital gains, not business income. Section 43(5) regarding speculative transactions was found not applicable. The revenue's appeals were dismissed, and the assessee's cross objections were partly allowed. en-us Wed, 06 May 2015 00:00:00 +0530 Wed, 20 May 2015 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260054 The Tribunal upheld the CIT (A)'s decisions in favor of the assessee, classifying income from share transactions as capital gains rather than business income. The Explanation to section 73 was deemed not applicable as the assessee's principal business was granting loans. Interest income was classified as business income due to the assessee's activities as an NBFC. Income from transfer of property rights was treated as short-term capital gains, not business income. Section 43(5) regarding speculative transactions was found not applicable. The revenue's appeals were dismissed, and the assessee's cross objections were partly allowed. Case-Laws Income Tax Wed, 06 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260054