https://www.taxtmi.com/caselaws?id=178684 The Tribunal allowed the appeal, directing the Assessing Officer to treat the profits from the sale of shares as capital gains rather than business income. The Tribunal emphasized that the frequency of transactions alone could not determine the nature of the activity and considered factors such as consistent treatment of shares as investments and absence of borrowed funds for share purchases. The AO was instructed to verify the computation of short-term and long-term capital gains declared by the assessee and to consider the claim for concessional tax rates under relevant sections. en-us Fri, 15 May 2009 00:00:00 +0530 Sat, 14 Oct 2023 13:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178684 The Tribunal allowed the appeal, directing the Assessing Officer to treat the profits from the sale of shares as capital gains rather than business income. The Tribunal emphasized that the frequency of transactions alone could not determine the nature of the activity and considered factors such as consistent treatment of shares as investments and absence of borrowed funds for share purchases. The AO was instructed to verify the computation of short-term and long-term capital gains declared by the assessee and to consider the claim for concessional tax rates under relevant sections. Case-Laws Income Tax Fri, 15 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178684