https://www.taxtmi.com/caselaws?id=178387 Share sale profits were treated as short-term capital gains where the assessee dealt in a limited number of scrips, the holding period supported an investment character, and the facts showed a clear separation between an investment portfolio and trading activity. The analysis accepted that an assessee may maintain separate portfolios for investment and business in share transactions. On that factual pattern, the CBDT circular did not justify recharacterising the entire gain as business income, so the Revenue's challenge failed and the income remained assessable as short-term capital gain. en-us Fri, 07 Jun 2013 00:00:00 +0530 Wed, 03 Feb 2016 17:12:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178387 Share sale profits were treated as short-term capital gains where the assessee dealt in a limited number of scrips, the holding period supported an investment character, and the facts showed a clear separation between an investment portfolio and trading activity. The analysis accepted that an assessee may maintain separate portfolios for investment and business in share transactions. On that factual pattern, the CBDT circular did not justify recharacterising the entire gain as business income, so the Revenue's challenge failed and the income remained assessable as short-term capital gain. Case-Laws Income Tax Fri, 07 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178387