https://www.taxtmi.com/caselaws?id=185814 Share-sale profits were treated as capital gains, not business income, because the assessee's transactions showed investment activity rather than trading. The Commissioner (Appeals) and the Tribunal relied on the extent of shareholding, the volume and frequency of dealings, and the pattern of holding shares for substantial periods. The assessee's conduct was consistent with an investor, and the CBDT circular on distinguishing investment and trading portfolios supported that characterisation. The fact that most shares were held long term, with only a small portion resulting in short-term gain, reinforced the conclusion that the share portfolio was investment-linked. en-us Mon, 01 Oct 2012 00:00:00 +0530 Wed, 24 Jan 2018 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185814 Share-sale profits were treated as capital gains, not business income, because the assessee's transactions showed investment activity rather than trading. The Commissioner (Appeals) and the Tribunal relied on the extent of shareholding, the volume and frequency of dealings, and the pattern of holding shares for substantial periods. The assessee's conduct was consistent with an investor, and the CBDT circular on distinguishing investment and trading portfolios supported that characterisation. The fact that most shares were held long term, with only a small portion resulting in short-term gain, reinforced the conclusion that the share portfolio was investment-linked. Case-Laws Income Tax Mon, 01 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185814