https://www.taxtmi.com/caselaws?id=330882 The court upheld the Commissioner's order under Section 263 of the Income Tax Act, 1961, regarding the conversion of shares from stock-in-trade to investment by a public limited company. It determined that the shares sold were classified as investment, not stock-in-trade, for capital gains taxation purposes. The court ruled in favor of the Revenue, affirming the correctness of the assessment order corrected by the Commissioner under section 263. en-us Thu, 16 Jun 2016 00:00:00 +0530 Fri, 18 Nov 2016 14:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330882 The court upheld the Commissioner's order under Section 263 of the Income Tax Act, 1961, regarding the conversion of shares from stock-in-trade to investment by a public limited company. It determined that the shares sold were classified as investment, not stock-in-trade, for capital gains taxation purposes. The court ruled in favor of the Revenue, affirming the correctness of the assessment order corrected by the Commissioner under section 263. Case-Laws Income Tax Thu, 16 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330882