https://www.taxtmi.com/caselaws?id=368103 Share-sale surplus is characterised by the assessee's intention and surrounding circumstances: where shares are held for a substantial period, routed through the stock exchange, and treated as investment rather than stock-in-trade, the profit is taxable as capital gains. A claimed gift, however, must be proved by the donor's identity, creditworthiness, and source of funds; where those elements are not satisfactorily established, the receipt may be treated as unexplained income. Interest follows the tax consequence of the assessed income, so the consequential levy is sustained where the underlying addition survives. en-us Thu, 13 Sep 2018 00:00:00 +0530 Mon, 01 Oct 2018 09:15:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368103 Share-sale surplus is characterised by the assessee's intention and surrounding circumstances: where shares are held for a substantial period, routed through the stock exchange, and treated as investment rather than stock-in-trade, the profit is taxable as capital gains. A claimed gift, however, must be proved by the donor's identity, creditworthiness, and source of funds; where those elements are not satisfactorily established, the receipt may be treated as unexplained income. Interest follows the tax consequence of the assessed income, so the consequential levy is sustained where the underlying addition survives. Case-Laws Income Tax Thu, 13 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368103