https://www.taxtmi.com/caselaws?id=178473 Delivery-based share transactions by a salaried employee, funded from own resources and consistently shown as investments at cost, were treated as capital assets rather than trading stock. The fact that earlier assessment years had accepted similar gains as capital gains supported the same characterisation. Turnover, frequency of transactions, Instruction No. 1827 and Circular No. 4/2007 were not ative on their own, because no single factor controls the classification and the overall factual pattern must be applied. On that basis, the surplus from sale of shares was assessed as short-term capital gain and not business income. en-us Tue, 28 Aug 2012 00:00:00 +0530 Fri, 05 Feb 2016 16:11:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178473 Delivery-based share transactions by a salaried employee, funded from own resources and consistently shown as investments at cost, were treated as capital assets rather than trading stock. The fact that earlier assessment years had accepted similar gains as capital gains supported the same characterisation. Turnover, frequency of transactions, Instruction No. 1827 and Circular No. 4/2007 were not ative on their own, because no single factor controls the classification and the overall factual pattern must be applied. On that basis, the surplus from sale of shares was assessed as short-term capital gain and not business income. Case-Laws Income Tax Tue, 28 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178473