https://www.taxtmi.com/caselaws?id=191037 The Tribunal concluded that the income from share transactions should be treated as short-term capital gains, not business income, for Assessment Years 2005-06 and 2006-07. The decision emphasized the consistency in the assessee's treatment of transactions, lack of substantial borrowing, and investment intent rather than business activity. The Tribunal directed the Assessing Officer to apply the concessional tax rate under Section 111A of the IT Act, 1961, highlighting the importance of aligning with higher court principles and CBDT guidelines. en-us Fri, 11 Mar 2016 00:00:00 +0530 Sat, 18 Mar 2017 11:23:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191037 The Tribunal concluded that the income from share transactions should be treated as short-term capital gains, not business income, for Assessment Years 2005-06 and 2006-07. The decision emphasized the consistency in the assessee's treatment of transactions, lack of substantial borrowing, and investment intent rather than business activity. The Tribunal directed the Assessing Officer to apply the concessional tax rate under Section 111A of the IT Act, 1961, highlighting the importance of aligning with higher court principles and CBDT guidelines. Case-Laws Income Tax Fri, 11 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191037