https://www.taxtmi.com/caselaws?id=178311 The Tribunal rejected the challenge to the validity of the assessment order due to the timing of the notice under section 143(2) but ruled in favor of the assessee regarding the classification of gains from the transfer of shares. The gains were to be treated as capital gains (both short-term and long-term) rather than business income, based on factors such as the intention of purchase, source of funds, and past treatment by tax authorities. The appeal was partly allowed. en-us Thu, 30 Jun 2011 00:00:00 +0530 Tue, 02 Feb 2016 10:43:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178311 The Tribunal rejected the challenge to the validity of the assessment order due to the timing of the notice under section 143(2) but ruled in favor of the assessee regarding the classification of gains from the transfer of shares. The gains were to be treated as capital gains (both short-term and long-term) rather than business income, based on factors such as the intention of purchase, source of funds, and past treatment by tax authorities. The appeal was partly allowed. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178311