https://www.taxtmi.com/caselaws?id=360875 The High Court considered the appeal regarding the categorization of income from the sale of shares as capital gain or business income. The Court upheld the Tribunal's decision to treat the income as capital gain, relying on CBDT circular No. 6 of 2016. The Court emphasized the assessee's right to declare their intention in buying and selling shares, with restrictions on changing this position. The exclusion clause in the circular applies to transactions with questionable genuineness, which the Court found absent in this case. The Tax Appeal was dismissed, affirming the treatment of income as capital gain. 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 The High Court considered the appeal regarding the categorization of income from the sale of shares as capital gain or business income. The Court upheld the Tribunal's decision to treat the income as capital gain, relying on CBDT circular No. 6 of 2016. The Court emphasized the assessee's right to declare their intention in buying and selling shares, with restrictions on changing this position. The exclusion clause in the circular applies to transactions with questionable genuineness, which the Court found absent in this case. The Tax Appeal was dismissed, affirming the treatment of income as capital gain. Case-Laws Income Tax Tue, 20 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360875