https://www.taxtmi.com/caselaws?id=331574 The Court dismissed the Revenue's appeals against the ITAT's decision affirming the split treatment of profit from share transactions as business income and capital gains for AYs 2006-07 and 2007-08. The Court found that the Assessee maintained separate treatment for shares held as investment and stock-in-trade, as supported by the factual findings of the lower authorities. It was determined that the Explanation to Section 73 of the Income Tax Act 1961 was not applicable, and no substantial legal question warranted court interference. Consequently, the appeals were dismissed. en-us Fri, 08 Jul 2016 00:00:00 +0530 Sat, 27 Aug 2016 12:33:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331574 The Court dismissed the Revenue's appeals against the ITAT's decision affirming the split treatment of profit from share transactions as business income and capital gains for AYs 2006-07 and 2007-08. The Court found that the Assessee maintained separate treatment for shares held as investment and stock-in-trade, as supported by the factual findings of the lower authorities. It was determined that the Explanation to Section 73 of the Income Tax Act 1961 was not applicable, and no substantial legal question warranted court interference. Consequently, the appeals were dismissed. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331574