https://www.taxtmi.com/caselaws?id=325884 The tribunal upheld the Commissioner of Income Tax (Appeals) decision to classify short term capital gains as capital gains, not business income, based on factors like holding period and trading frequency. Additionally, the tribunal supported the allowance of bad debts claimed by the assessee, emphasizing that once a bad debt is written off in the books, the claim cannot be disallowed. The tribunal dismissed the revenue's appeals on both issues, highlighting the importance of accounting principles and legal precedents in such determinations. en-us Fri, 19 Feb 2016 00:00:00 +0530 Thu, 31 Mar 2016 10:41:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325884 The tribunal upheld the Commissioner of Income Tax (Appeals) decision to classify short term capital gains as capital gains, not business income, based on factors like holding period and trading frequency. Additionally, the tribunal supported the allowance of bad debts claimed by the assessee, emphasizing that once a bad debt is written off in the books, the claim cannot be disallowed. The tribunal dismissed the revenue's appeals on both issues, highlighting the importance of accounting principles and legal precedents in such determinations. Case-Laws Income Tax Fri, 19 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325884