https://www.taxtmi.com/caselaws?id=179285 The High Court affirmed the Tribunal's decision regarding the treatment of capital gains on the sale of shares. It held that the shares were investments, not stock-in-trade, based on factors like holding period and the company's investment activity. The court dismissed the Revenue's appeals, finding no substantial question of law in categorizing long-term gains as business income and short-term gains as capital gains. The assessee's explanations and evidence supported the investment nature of the shares, leading to the court's decision in favor of the assessee. en-us Mon, 09 Apr 2012 00:00:00 +0530 Tue, 04 Jul 2017 09:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179285 The High Court affirmed the Tribunal's decision regarding the treatment of capital gains on the sale of shares. It held that the shares were investments, not stock-in-trade, based on factors like holding period and the company's investment activity. The court dismissed the Revenue's appeals, finding no substantial question of law in categorizing long-term gains as business income and short-term gains as capital gains. The assessee's explanations and evidence supported the investment nature of the shares, leading to the court's decision in favor of the assessee. Case-Laws Income Tax Mon, 09 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179285