https://www.taxtmi.com/caselaws?id=178378 The Tribunal ruled in favor of the assessee, determining that the short term capital gain should be treated as such and not classified as business income, allowing the assessee to benefit from the concessional tax rate under Section 111A. Additionally, the Tribunal held that the forfeited share application money was a capital receipt and therefore not taxable as income in the assessment year 2007-08. en-us Wed, 07 Dec 2011 00:00:00 +0530 Thu, 07 Sep 2017 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178378 The Tribunal ruled in favor of the assessee, determining that the short term capital gain should be treated as such and not classified as business income, allowing the assessee to benefit from the concessional tax rate under Section 111A. Additionally, the Tribunal held that the forfeited share application money was a capital receipt and therefore not taxable as income in the assessment year 2007-08. Case-Laws Income Tax Wed, 07 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178378