https://www.taxtmi.com/caselaws?id=186591 The Tribunal held that the short-term and long-term capital gains from the sale of shares by the company in the hotel business should be assessed as capital gains, not business income. The Tribunal emphasized the intention at the time of purchase, the treatment of shares in the books, and historical acceptance by the department. As a result, the gains were considered investments and not stock-in-trade, leading to a decision in favor of the assessee. The matter was remanded to the Assessing Officer for verification, and the appeal was allowed for statistical purposes. en-us Tue, 31 May 2011 00:00:00 +0530 Fri, 23 Sep 2016 13:19:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186591 The Tribunal held that the short-term and long-term capital gains from the sale of shares by the company in the hotel business should be assessed as capital gains, not business income. The Tribunal emphasized the intention at the time of purchase, the treatment of shares in the books, and historical acceptance by the department. As a result, the gains were considered investments and not stock-in-trade, leading to a decision in favor of the assessee. The matter was remanded to the Assessing Officer for verification, and the appeal was allowed for statistical purposes. Case-Laws Income Tax Tue, 31 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186591