https://www.taxtmi.com/caselaws?id=343375 Income from transfer of listed equity shares held as long-term investment was treated as long term capital gain and not business income. The Court relied on the prolonged holding period of more than 16 years, which indicated investment character rather than trading activity, and noted CBDT Circular No. 6 of 2016 read with Circular No. 4 of 2009, under which listed shares held for more than 12 months before transfer are generally to be assessed as capital gains to reduce litigation. The transfer was therefore correctly assessed as capital gains in favour of the assessee. en-us Thu, 11 May 2017 00:00:00 +0530 Wed, 24 May 2017 07:04:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343375 Income from transfer of listed equity shares held as long-term investment was treated as long term capital gain and not business income. The Court relied on the prolonged holding period of more than 16 years, which indicated investment character rather than trading activity, and noted CBDT Circular No. 6 of 2016 read with Circular No. 4 of 2009, under which listed shares held for more than 12 months before transfer are generally to be assessed as capital gains to reduce litigation. The transfer was therefore correctly assessed as capital gains in favour of the assessee. Case-Laws Income Tax Thu, 11 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343375