https://www.taxtmi.com/caselaws?id=332074 The High Court upheld the decision of the Income Tax Appellate Tribunal, confirming the treatment of sale proceeds of shares as Short Term Capital Gains for an Assessment Year. The Court agreed with the Tribunal's finding that the assessee company qualified as an Investment Company and held the shares for a substantial period post-conversion to Demat. Both the Commissioner of Income Tax (Appeals) and the Tribunal deemed the income classification as Capital Gains appropriate, dismissing the Revenue's appeal due to the lack of evidence showing errors in the lower authorities' decisions. en-us Mon, 29 Aug 2016 00:00:00 +0530 Fri, 09 Sep 2016 22:18:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332074 The High Court upheld the decision of the Income Tax Appellate Tribunal, confirming the treatment of sale proceeds of shares as Short Term Capital Gains for an Assessment Year. The Court agreed with the Tribunal's finding that the assessee company qualified as an Investment Company and held the shares for a substantial period post-conversion to Demat. Both the Commissioner of Income Tax (Appeals) and the Tribunal deemed the income classification as Capital Gains appropriate, dismissing the Revenue's appeal due to the lack of evidence showing errors in the lower authorities' decisions. Case-Laws Income Tax Mon, 29 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332074