https://www.taxtmi.com/caselaws?id=188132 The court upheld the decision that income from the sale of shares by the assessee should be categorized as capital gains from investment activities rather than business income. The court found that the assessee had a long history of investing in shares and had not treated shares as stock in trade, supporting the conclusion that the activities were more aligned with investment rather than trading. Consequently, the profits from share transactions were treated as investment income, allowing the assessee to claim benefits like indexation and exemptions on share investments. The revenue's arguments were dismissed, and the appeal was rejected with no costs awarded. en-us Wed, 09 Jan 2013 00:00:00 +0530 Fri, 09 Jun 2017 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188132 The court upheld the decision that income from the sale of shares by the assessee should be categorized as capital gains from investment activities rather than business income. The court found that the assessee had a long history of investing in shares and had not treated shares as stock in trade, supporting the conclusion that the activities were more aligned with investment rather than trading. Consequently, the profits from share transactions were treated as investment income, allowing the assessee to claim benefits like indexation and exemptions on share investments. The revenue's arguments were dismissed, and the appeal was rejected with no costs awarded. Case-Laws Income Tax Wed, 09 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188132