https://www.taxtmi.com/caselaws?id=188130 The Appellate Tribunal upheld the classification of income from the sale of shares as capital gains rather than business income for assessment years 2005-06 and 2006-07. The Tribunal found that the assessee's activities were more aligned with investing in shares for capital gains rather than carrying on a business of share trading, based on past assessments and consistent profit declarations. Citing a similar case from the Hon'ble Bombay High Court, the Tribunal dismissed the Revenue's appeals and affirmed the assessee's position, emphasizing the importance of motive and historical treatment of income in determining the nature of transactions. en-us Wed, 15 May 2013 00:00:00 +0530 Mon, 24 Apr 2017 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188130 The Appellate Tribunal upheld the classification of income from the sale of shares as capital gains rather than business income for assessment years 2005-06 and 2006-07. The Tribunal found that the assessee's activities were more aligned with investing in shares for capital gains rather than carrying on a business of share trading, based on past assessments and consistent profit declarations. Citing a similar case from the Hon'ble Bombay High Court, the Tribunal dismissed the Revenue's appeals and affirmed the assessee's position, emphasizing the importance of motive and historical treatment of income in determining the nature of transactions. Case-Laws Income Tax Wed, 15 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188130