https://www.taxtmi.com/caselaws?id=186431 The Tribunal allowed the appeal, disagreeing with the authorities' treatment of the sale of shares as business income instead of capital gains. It found the shares were not part of the stock in trade, and the use of borrowed funds did not indicate a trading transaction. Emphasizing the distinction between investments and trading activities, the Tribunal directed the Assessing Officer to grant the exemption under section 47(v) for the gains on the sale of shares, overturning the CIT(A)'s decision. en-us Wed, 19 Jan 2011 00:00:00 +0530 Sat, 17 Sep 2016 17:03:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186431 The Tribunal allowed the appeal, disagreeing with the authorities' treatment of the sale of shares as business income instead of capital gains. It found the shares were not part of the stock in trade, and the use of borrowed funds did not indicate a trading transaction. Emphasizing the distinction between investments and trading activities, the Tribunal directed the Assessing Officer to grant the exemption under section 47(v) for the gains on the sale of shares, overturning the CIT(A)'s decision. Case-Laws Income Tax Wed, 19 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186431