https://www.taxtmi.com/caselaws?id=335041 Share transaction gains were treated as capital gains, not business income, because the assessee consistently reflected the shares as investments, the trades were delivery-based, and a separate investment portfolio was maintained. The Tribunal accepted that a taxpayer may hold both investment and trading portfolios, and relied on the surrounding circumstances and the assessee's own earlier case to determine the character of the holdings. Mere frequency or volume of transactions was not decisive. On those facts, the profit from the share dealings was assessable as short-term capital gain. en-us Wed, 28 Sep 2016 00:00:00 +0530 Fri, 25 Nov 2016 10:46:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335041 Share transaction gains were treated as capital gains, not business income, because the assessee consistently reflected the shares as investments, the trades were delivery-based, and a separate investment portfolio was maintained. The Tribunal accepted that a taxpayer may hold both investment and trading portfolios, and relied on the surrounding circumstances and the assessee's own earlier case to determine the character of the holdings. Mere frequency or volume of transactions was not decisive. On those facts, the profit from the share dealings was assessable as short-term capital gain. Case-Laws Income Tax Wed, 28 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335041