https://www.taxtmi.com/caselaws?id=360875 Income from sale of listed shares was treated as capital gains, not business income, because the assessee's treatment of the transactions was accepted under CBDT Circular No. 6 of 2016 and the Revenue did not show the trades to be sham or bogus. The Tribunal's finding stood since the material relied on by the Revenue created only suspicion and did not displace the conclusion that the share-sale receipts were capital gains. The circular applied to the transactions in question, and the classification as business income was rejected. en-us Tue, 20 Mar 2018 00:00:00 +0530 Thu, 24 May 2018 08:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360875 Income from sale of listed shares was treated as capital gains, not business income, because the assessee's treatment of the transactions was accepted under CBDT Circular No. 6 of 2016 and the Revenue did not show the trades to be sham or bogus. The Tribunal's finding stood since the material relied on by the Revenue created only suspicion and did not displace the conclusion that the share-sale receipts were capital gains. The circular applied to the transactions in question, and the classification as business income was rejected. Case-Laws Income Tax Tue, 20 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360875