https://www.taxtmi.com/caselaws?id=180515 The Tribunal dismissed the revenue's appeals, upholding the CIT(A)'s decision that the gains from share transactions were capital gains, not business income. The Tribunal emphasized that the period of holding and number of transactions alone cannot determine income nature, placing the burden on the revenue to prove shares were held as stock-in-trade. The decision relied on precedents and confirmed that the CIT(A)'s order was binding, emphasizing the importance of intention and evidence in determining the nature of share holdings. en-us Tue, 16 Oct 2012 00:00:00 +0530 Thu, 07 Apr 2016 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180515 The Tribunal dismissed the revenue's appeals, upholding the CIT(A)'s decision that the gains from share transactions were capital gains, not business income. The Tribunal emphasized that the period of holding and number of transactions alone cannot determine income nature, placing the burden on the revenue to prove shares were held as stock-in-trade. The decision relied on precedents and confirmed that the CIT(A)'s order was binding, emphasizing the importance of intention and evidence in determining the nature of share holdings. Case-Laws Income Tax Tue, 16 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180515