https://www.taxtmi.com/caselaws?id=175319 The Income Tax Appellate Tribunal (ITAT) upheld the decision of the Commissioner of Income Tax (Appeals) (CIT (A)), ruling in favor of the assessee. The ITAT determined that gains from shares held for over 12 months should be classified as Long Term Capital Gains (LTCG), while gains from shares held for less than 12 months should be treated as Short Term Capital Gains (STCG). The ITAT found the assessee's activities aligned with investment rather than business, considering factors such as the absence of borrowed funds, nature of transactions, and holding period of shares. The Revenue's appeal was dismissed, affirming the CIT (A)'s order. en-us Wed, 05 Dec 2012 00:00:00 +0530 Wed, 18 Nov 2015 12:24:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175319 The Income Tax Appellate Tribunal (ITAT) upheld the decision of the Commissioner of Income Tax (Appeals) (CIT (A)), ruling in favor of the assessee. The ITAT determined that gains from shares held for over 12 months should be classified as Long Term Capital Gains (LTCG), while gains from shares held for less than 12 months should be treated as Short Term Capital Gains (STCG). The ITAT found the assessee's activities aligned with investment rather than business, considering factors such as the absence of borrowed funds, nature of transactions, and holding period of shares. The Revenue's appeal was dismissed, affirming the CIT (A)'s order. Case-Laws Income Tax Wed, 05 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175319