https://www.taxtmi.com/caselaws?id=348083 The High Court upheld the decision that the surplus from the sale of shares was treated as long term capital gains instead of business income, based on the assessee's intention at the time of purchase. Additionally, the deletion of an addition on account of unexplained cash credit was supported, as the genuineness of the transaction and the donor's creditworthiness were established. The Court also confirmed that the source of shares did not affect the nature of income from their sale, emphasizing the distinction between investment for capital gains and business purposes. All tax appeals were dismissed by the High Court. en-us Tue, 12 Sep 2017 00:00:00 +0530 Sat, 16 Sep 2017 08:08:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348083 The High Court upheld the decision that the surplus from the sale of shares was treated as long term capital gains instead of business income, based on the assessee's intention at the time of purchase. Additionally, the deletion of an addition on account of unexplained cash credit was supported, as the genuineness of the transaction and the donor's creditworthiness were established. The Court also confirmed that the source of shares did not affect the nature of income from their sale, emphasizing the distinction between investment for capital gains and business purposes. All tax appeals were dismissed by the High Court. Case-Laws Income Tax Tue, 12 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348083