https://www.taxtmi.com/caselaws?id=329408 The tribunal ruled in favor of the appellant, an investment company, determining that the long term and short term capital gains from the sale of shares should be assessed as capital gains, not business income. The tribunal also held that the disallowance of interest costs was unjustified, as interest costs for shares held as investments should be added to the acquisition cost for computing capital gains. Consequently, the appellant succeeded on both issues for the assessment years 2000-01 and 2001-02, with judgments pronounced on 29/04/2016. en-us Fri, 29 Apr 2016 00:00:00 +0530 Fri, 01 Jul 2016 12:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329408 The tribunal ruled in favor of the appellant, an investment company, determining that the long term and short term capital gains from the sale of shares should be assessed as capital gains, not business income. The tribunal also held that the disallowance of interest costs was unjustified, as interest costs for shares held as investments should be added to the acquisition cost for computing capital gains. Consequently, the appellant succeeded on both issues for the assessment years 2000-01 and 2001-02, with judgments pronounced on 29/04/2016. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329408