https://www.taxtmi.com/caselaws?id=360874 Share-sale income is treated as capital gains where the transactions are genuine. The CBDT circular accepts an assessee's declared treatment of listed shares in appropriate cases and requires that treatment to be respected, but it does not protect bogus or sham dealings. Here, the Revenue relied on suspicion about price movements and trading pattern, without proving that the share transactions lacked genuineness. The income was therefore rightly assessed as capital gains and not business income, and the capital-gains treatment was sustained. en-us Tue, 20 Mar 2018 00:00:00 +0530 Thu, 24 May 2018 08:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360874 Share-sale income is treated as capital gains where the transactions are genuine. The CBDT circular accepts an assessee's declared treatment of listed shares in appropriate cases and requires that treatment to be respected, but it does not protect bogus or sham dealings. Here, the Revenue relied on suspicion about price movements and trading pattern, without proving that the share transactions lacked genuineness. The income was therefore rightly assessed as capital gains and not business income, and the capital-gains treatment was sustained. Case-Laws Income Tax Tue, 20 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360874