https://www.taxtmi.com/caselaws?id=271666 The ITAT upheld the CIT(A)'s decision to classify income from shares as short term and long term capital gains, not business income, for the assessment year 2010-11. The assessee, an HUF engaged in property development, demonstrated investment intent through holding periods, use of own funds, proper record-keeping, and absence of borrowing for investments. The ITAT dismissed the Revenue's appeal, affirming the assessee's investor status in shares. en-us Fri, 13 Nov 2015 00:00:00 +0530 Fri, 12 Feb 2016 09:43:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271666 The ITAT upheld the CIT(A)'s decision to classify income from shares as short term and long term capital gains, not business income, for the assessment year 2010-11. The assessee, an HUF engaged in property development, demonstrated investment intent through holding periods, use of own funds, proper record-keeping, and absence of borrowing for investments. The ITAT dismissed the Revenue's appeal, affirming the assessee's investor status in shares. Case-Laws Income Tax Fri, 13 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271666