https://www.taxtmi.com/caselaws?id=183048 The Tribunal allowed the appeal, directing the Assessing Officer to treat the Short Term Capital Gain on the sale of shares as declared by the assessee, rejecting the classification of the gain as business income. The Tribunal emphasized the investor behavior of the assessee, considering factors such as the limited dealings in shares, absence of repetitive transactions, and short holding duration. The utilization of borrowed funds for IPO investment was deemed a common practice in investment, leading to the decision in favor of the assessee. en-us Fri, 05 Dec 2014 00:00:00 +0530 Fri, 27 May 2016 09:35:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183048 The Tribunal allowed the appeal, directing the Assessing Officer to treat the Short Term Capital Gain on the sale of shares as declared by the assessee, rejecting the classification of the gain as business income. The Tribunal emphasized the investor behavior of the assessee, considering factors such as the limited dealings in shares, absence of repetitive transactions, and short holding duration. The utilization of borrowed funds for IPO investment was deemed a common practice in investment, leading to the decision in favor of the assessee. Case-Laws Income Tax Fri, 05 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183048