https://www.taxtmi.com/caselaws?id=262784 The ITAT Mumbai upheld the decision to classify gains from share transactions as business income rather than capital gains, citing the appellant's consistent share dealings as indicative of a trading pattern. The ITAT directed factual verification for the inclusion of an amount in closing stock and confirmed the addition of a write back of an unsecured loan as taxable income under section 41(1) of the Income Tax Act. The appeal was partially allowed for statistical purposes. en-us Fri, 06 Feb 2015 00:00:00 +0530 Wed, 18 Feb 2015 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262784 The ITAT Mumbai upheld the decision to classify gains from share transactions as business income rather than capital gains, citing the appellant's consistent share dealings as indicative of a trading pattern. The ITAT directed factual verification for the inclusion of an amount in closing stock and confirmed the addition of a write back of an unsecured loan as taxable income under section 41(1) of the Income Tax Act. The appeal was partially allowed for statistical purposes. Case-Laws Income Tax Fri, 06 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262784