https://www.taxtmi.com/caselaws?id=261407 The Court affirmed the classification of income from the sale of shares as "Capital gains," rejecting the assessing officer's treatment as business income. It upheld the disallowance of travel and technical support charges due to lack of evidence of business justification. However, the deduction of legal charges was allowed as it related to the sale of shares and was correctly accounted for. The Court dismissed both appeals, answering in favor of the revenue on key issues and upholding the Tribunal's decision without costs. en-us Fri, 26 Jun 2015 00:00:00 +0530 Sat, 11 Jul 2015 06:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261407 The Court affirmed the classification of income from the sale of shares as "Capital gains," rejecting the assessing officer's treatment as business income. It upheld the disallowance of travel and technical support charges due to lack of evidence of business justification. However, the deduction of legal charges was allowed as it related to the sale of shares and was correctly accounted for. The Court dismissed both appeals, answering in favor of the revenue on key issues and upholding the Tribunal's decision without costs. Case-Laws Income Tax Fri, 26 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261407