https://www.taxtmi.com/caselaws?id=361787 The Tribunal allowed the appeal challenging the assessment of short term Capital Gain under "Income from business or profession" instead of "Capital Gain." The Tribunal emphasized the intention reflected in the books of accounts, absence of diminution in value claims, and the company's resolution to keep shares as investments. Referring to relevant case law and a CBDT circular, the Tribunal directed the Assessing Officer to assess the income as "Short Term Capital Gain" under the head "Capital Gain," overturning the decisions of the Ld. Commissioner of Income Tax (Appeals) and the Assessing Officer. en-us Wed, 13 Jun 2018 00:00:00 +0530 Wed, 20 Jun 2018 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361787 The Tribunal allowed the appeal challenging the assessment of short term Capital Gain under "Income from business or profession" instead of "Capital Gain." The Tribunal emphasized the intention reflected in the books of accounts, absence of diminution in value claims, and the company's resolution to keep shares as investments. Referring to relevant case law and a CBDT circular, the Tribunal directed the Assessing Officer to assess the income as "Short Term Capital Gain" under the head "Capital Gain," overturning the decisions of the Ld. Commissioner of Income Tax (Appeals) and the Assessing Officer. Case-Laws Income Tax Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361787