https://www.taxtmi.com/caselaws?id=172452 The High Court of Delhi determined that income from the sale of shares should be classified as capital gains rather than business income. The court emphasized the assessee's consistent treatment of the shares as investments, supported by the absence of evidence indicating regular share trading activities. Relying on the Supreme Court precedent, the court highlighted the significance of how transactions are recorded in the books of account. As a result, the Assessing Officer's classification of the income as business income was overturned, and the appeal was dismissed as no substantial question of law arose. en-us Thu, 02 Aug 2007 00:00:00 +0530 Fri, 21 Aug 2015 16:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172452 The High Court of Delhi determined that income from the sale of shares should be classified as capital gains rather than business income. The court emphasized the assessee's consistent treatment of the shares as investments, supported by the absence of evidence indicating regular share trading activities. Relying on the Supreme Court precedent, the court highlighted the significance of how transactions are recorded in the books of account. As a result, the Assessing Officer's classification of the income as business income was overturned, and the appeal was dismissed as no substantial question of law arose. Case-Laws Income Tax Thu, 02 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172452