https://www.taxtmi.com/caselaws?id=185287 The Tribunal held that the surplus from the sale of shares held for less than 30 days should be classified as short-term capital gains, rejecting the Assessing Officer and CIT(A)'s classification as business income. Factors such as the assessee's intention, absence of borrowed funds, and consistent treatment of transactions supported the finding. The Tribunal directed the Assessing Officer to accept the short-term capital gain shown by the assessee, allowing the appeal in full. The decision emphasizes the importance of intention and consistent treatment in determining the nature of gains from share transactions. en-us Wed, 31 Oct 2012 00:00:00 +0530 Wed, 24 Jan 2018 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185287 The Tribunal held that the surplus from the sale of shares held for less than 30 days should be classified as short-term capital gains, rejecting the Assessing Officer and CIT(A)'s classification as business income. Factors such as the assessee's intention, absence of borrowed funds, and consistent treatment of transactions supported the finding. The Tribunal directed the Assessing Officer to accept the short-term capital gain shown by the assessee, allowing the appeal in full. The decision emphasizes the importance of intention and consistent treatment in determining the nature of gains from share transactions. Case-Laws Income Tax Wed, 31 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185287