https://www.taxtmi.com/caselaws?id=331742 The Appellate Tribunal ITAT Mumbai upheld the decision of the Ld CIT(A) classifying gains from the sale of shares as short-term capital gains for the assessment year 2010-11. The Tribunal emphasized assessing the assessee's intention and activities, considering factors such as transaction volume, funding sources, and previous treatment of gains. The Tribunal found the assessee's predominant earnings from mutual fund units and strategic approach to selling indicated investment activity. The principle of consistency in tax assessments led to the dismissal of the Revenue's appeal, supporting the assessee's classification of gains as short-term capital gains. en-us Wed, 27 Jul 2016 00:00:00 +0530 Thu, 01 Sep 2016 14:05:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331742 The Appellate Tribunal ITAT Mumbai upheld the decision of the Ld CIT(A) classifying gains from the sale of shares as short-term capital gains for the assessment year 2010-11. The Tribunal emphasized assessing the assessee's intention and activities, considering factors such as transaction volume, funding sources, and previous treatment of gains. The Tribunal found the assessee's predominant earnings from mutual fund units and strategic approach to selling indicated investment activity. The principle of consistency in tax assessments led to the dismissal of the Revenue's appeal, supporting the assessee's classification of gains as short-term capital gains. Case-Laws Income Tax Wed, 27 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331742