https://www.taxtmi.com/caselaws?id=328542 The Tribunal partly allowed the Assessee's appeal, ruling that the reclassification of Short Term Capital Gain (STCG) as business income by the CIT(A) was beyond the scope of the order under Section 263. The interest claimed by the Assessee in computing STCG was correctly disallowed by the AO. The gain on the sale of shares held as investments should be treated as capital gain to maintain consistency with previous and subsequent years. The appeal of the Assessee was partly allowed by the Tribunal. en-us Wed, 11 May 2016 00:00:00 +0530 Tue, 07 Jun 2016 11:21:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328542 The Tribunal partly allowed the Assessee's appeal, ruling that the reclassification of Short Term Capital Gain (STCG) as business income by the CIT(A) was beyond the scope of the order under Section 263. The interest claimed by the Assessee in computing STCG was correctly disallowed by the AO. The gain on the sale of shares held as investments should be treated as capital gain to maintain consistency with previous and subsequent years. The appeal of the Assessee was partly allowed by the Tribunal. Case-Laws Income Tax Wed, 11 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328542