https://www.taxtmi.com/caselaws?id=186125 The Tribunal upheld the classification of short term capital gains based on holding periods as directed by the CIT[A], treating profits from shares held for less than 30 days as business income and those held for more than 30 days as capital gains. The appeal against the disallowance of telephone, salary, and local conveyance expenses on an adhoc basis was dismissed due to insufficient supporting evidence, with the expenses considered personal in nature. The appeal was partly allowed for statistical purposes. en-us Fri, 13 Aug 2010 00:00:00 +0530 Wed, 07 Sep 2016 18:16:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186125 The Tribunal upheld the classification of short term capital gains based on holding periods as directed by the CIT[A], treating profits from shares held for less than 30 days as business income and those held for more than 30 days as capital gains. The appeal against the disallowance of telephone, salary, and local conveyance expenses on an adhoc basis was dismissed due to insufficient supporting evidence, with the expenses considered personal in nature. The appeal was partly allowed for statistical purposes. Case-Laws Income Tax Fri, 13 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186125