https://www.taxtmi.com/caselaws?id=341330 The High Court of Calcutta ruled in favor of the assessee in an appeal regarding the conversion of trading shares into investment shares for tax treatment. The Court allowed the conversion, treating the profits as long-term capital gains. It emphasized that the rejection in the previous year did not prevent the assessee from seeking adjudication on the matter in the current appeal, clarifying the principles of such conversions and the applicability of res judicata in revenue matters. en-us Tue, 04 Apr 2017 00:00:00 +0530 Sat, 13 May 2017 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341330 The High Court of Calcutta ruled in favor of the assessee in an appeal regarding the conversion of trading shares into investment shares for tax treatment. The Court allowed the conversion, treating the profits as long-term capital gains. It emphasized that the rejection in the previous year did not prevent the assessee from seeking adjudication on the matter in the current appeal, clarifying the principles of such conversions and the applicability of res judicata in revenue matters. Case-Laws Income Tax Tue, 04 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341330