https://www.taxtmi.com/caselaws?id=181632 The ITAT Delhi allowed the appeal filed by the assessee, determining that profits from the sale of shares held as investments should be treated as short term capital gains, not business income. The decision aligned with the Bombay High Court ruling in a similar case, considering evidence such as board resolutions, investment register entries, and dividend receipts to establish the nature of the shares. The ITAT Delhi disagreed with the assessing officer and CIT (Appeals), emphasizing the maintenance of separate portfolios for investment and business activities. en-us Fri, 13 May 2011 00:00:00 +0530 Wed, 20 Apr 2016 18:39:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181632 The ITAT Delhi allowed the appeal filed by the assessee, determining that profits from the sale of shares held as investments should be treated as short term capital gains, not business income. The decision aligned with the Bombay High Court ruling in a similar case, considering evidence such as board resolutions, investment register entries, and dividend receipts to establish the nature of the shares. The ITAT Delhi disagreed with the assessing officer and CIT (Appeals), emphasizing the maintenance of separate portfolios for investment and business activities. Case-Laws Income Tax Fri, 13 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181632