https://www.taxtmi.com/caselaws?id=334572 Income from share sales was treated as capital gains where the assessee had, for years, held the shares as investments and been assessed on that basis in earlier periods. The Revenue did not dispute that the shares were shown as investment and not as stock-in-trade, and earlier decisions in the assessee's own case supported the same characterisation. The Tribunal noted that transaction volume or frequency alone does not determine business income when the surrounding facts indicate an investment pattern. On that reasoning, the share transactions were assessable under the head capital gains and not as business income. en-us Thu, 08 Sep 2016 00:00:00 +0530 Wed, 16 Nov 2016 17:05:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334572 Income from share sales was treated as capital gains where the assessee had, for years, held the shares as investments and been assessed on that basis in earlier periods. The Revenue did not dispute that the shares were shown as investment and not as stock-in-trade, and earlier decisions in the assessee's own case supported the same characterisation. The Tribunal noted that transaction volume or frequency alone does not determine business income when the surrounding facts indicate an investment pattern. On that reasoning, the share transactions were assessable under the head capital gains and not as business income. Case-Laws Income Tax Thu, 08 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334572