https://www.taxtmi.com/caselaws?id=340384 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision, concluding that the gain from the sale of shares should be treated as capital gains, not business income. The appellant's consistent treatment of shares as investments, lack of background in share trading, and holding shares for dividend income and capital appreciation supported this classification. The Tribunal found no justification for the Assessing Officer's treatment of gains as business income and dismissed the Revenue's appeal. en-us Tue, 14 Mar 2017 00:00:00 +0530 Tue, 21 Mar 2017 08:59:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340384 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision, concluding that the gain from the sale of shares should be treated as capital gains, not business income. The appellant's consistent treatment of shares as investments, lack of background in share trading, and holding shares for dividend income and capital appreciation supported this classification. The Tribunal found no justification for the Assessing Officer's treatment of gains as business income and dismissed the Revenue's appeal. Case-Laws Income Tax Tue, 14 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340384