https://www.taxtmi.com/caselaws?id=184219 The High Court affirmed the classification of profit earned from transactions of shares and mutual funds as capital gains, based on the assessee's intention to hold the shares as investments rather than conducting business activities. The court found the reasoning provided by the CIT(A) to be appropriate, supported by the history of the assessee's share transactions and previous acceptance of shares as investments by the Department. Emphasizing the importance of the assessee's intention in determining tax liability, the court concluded that no substantial question of law arose and dismissed the appeal. en-us Fri, 28 Sep 2012 00:00:00 +0530 Sat, 02 Jul 2016 13:12:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184219 The High Court affirmed the classification of profit earned from transactions of shares and mutual funds as capital gains, based on the assessee's intention to hold the shares as investments rather than conducting business activities. The court found the reasoning provided by the CIT(A) to be appropriate, supported by the history of the assessee's share transactions and previous acceptance of shares as investments by the Department. Emphasizing the importance of the assessee's intention in determining tax liability, the court concluded that no substantial question of law arose and dismissed the appeal. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184219