https://www.taxtmi.com/caselaws?id=178919 The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objections, directing the AO to treat all share transactions as capital gains, irrespective of holding period. It emphasized consistency in securities treatment, rejecting the AO's classification of income as business income based on transaction volume and borrowed funds use. The Tribunal noted the assessee's substantial own funds and previous consistent investment practices, concluding that the factors cited were insufficient for a business income classification. en-us Mon, 28 Oct 2013 00:00:00 +0530 Thu, 03 Nov 2016 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178919 The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objections, directing the AO to treat all share transactions as capital gains, irrespective of holding period. It emphasized consistency in securities treatment, rejecting the AO's classification of income as business income based on transaction volume and borrowed funds use. The Tribunal noted the assessee's substantial own funds and previous consistent investment practices, concluding that the factors cited were insufficient for a business income classification. Case-Laws Income Tax Mon, 28 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178919