https://www.taxtmi.com/caselaws?id=338008 The ITAT directed the AO to treat the profit on sale of shares as short term capital gains, not business income, based on the precedent and the nature of the transactions as investment activities. Additionally, the ITAT accepted the provision for loss on equity stock option as a legitimate loss, consistent with accounting standards and actual market losses, overturning the disallowance by the AO and CIT(A). en-us Wed, 18 Jan 2017 00:00:00 +0530 Sun, 22 Jan 2017 08:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338008 The ITAT directed the AO to treat the profit on sale of shares as short term capital gains, not business income, based on the precedent and the nature of the transactions as investment activities. Additionally, the ITAT accepted the provision for loss on equity stock option as a legitimate loss, consistent with accounting standards and actual market losses, overturning the disallowance by the AO and CIT(A). Case-Laws Income Tax Wed, 18 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338008