https://www.taxtmi.com/caselaws?id=334953 The Court dismissed the Revenue's appeal challenging the classification of profit from share transactions as Short Term Capital Gain instead of Business Income for Assessment Years 2005-06, 2006-07, and 2008-09. The Court found that the transactions were not indicative of a trading activity as they were infrequent and not funded by borrowed funds, distinguishing them from previous years. The assessee's use of its own funds for investments led to the conclusion that the transactions did not qualify as business income, resulting in the dismissal of the appeal without costs. en-us Tue, 15 Nov 2016 00:00:00 +0530 Wed, 23 Nov 2016 15:44:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334953 The Court dismissed the Revenue's appeal challenging the classification of profit from share transactions as Short Term Capital Gain instead of Business Income for Assessment Years 2005-06, 2006-07, and 2008-09. The Court found that the transactions were not indicative of a trading activity as they were infrequent and not funded by borrowed funds, distinguishing them from previous years. The assessee's use of its own funds for investments led to the conclusion that the transactions did not qualify as business income, resulting in the dismissal of the appeal without costs. Case-Laws Income Tax Tue, 15 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334953