https://www.taxtmi.com/caselaws?id=329143 The case involved determining whether income from the sale of shares should be classified as capital gains or income from other sources. The court found that the sale of shares took place on a specific date based on an offer letter, leading to the conclusion that the gains were taxable under "capital gains." Additionally, it was established that the sale occurred after the company was discharged from the B.I.F.R. scheme, and the consideration received was solely from the sale of shares. The classification of income from the sale of Chaitra Realty Ltd. shares as capital gains was upheld, and the appeals were dismissed with no costs awarded. en-us Tue, 14 Jun 2016 00:00:00 +0530 Thu, 23 Jun 2016 13:06:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329143 The case involved determining whether income from the sale of shares should be classified as capital gains or income from other sources. The court found that the sale of shares took place on a specific date based on an offer letter, leading to the conclusion that the gains were taxable under "capital gains." Additionally, it was established that the sale occurred after the company was discharged from the B.I.F.R. scheme, and the consideration received was solely from the sale of shares. The classification of income from the sale of Chaitra Realty Ltd. shares as capital gains was upheld, and the appeals were dismissed with no costs awarded. Case-Laws Income Tax Tue, 14 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329143