https://www.taxtmi.com/caselaws?id=275836 The Tribunal upheld the lower authorities' decision to treat income from the sale of shares as business income rather than short term capital gain. The assessee's quick turnover of shares and lack of intention to hold for appreciation indicated a profit motive, supporting the classification as business income. The Tribunal rejected the plea for consistency based on the assessee's varying treatment of gains in prior years and distinguished the case from a previous Bombay High Court judgment. The decision was grounded in the specific facts and transactions of the case, emphasizing the profit-driven nature of the share dealings. en-us Mon, 27 Apr 2015 00:00:00 +0530 Sat, 20 Oct 2018 09:55:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275836 The Tribunal upheld the lower authorities' decision to treat income from the sale of shares as business income rather than short term capital gain. The assessee's quick turnover of shares and lack of intention to hold for appreciation indicated a profit motive, supporting the classification as business income. The Tribunal rejected the plea for consistency based on the assessee's varying treatment of gains in prior years and distinguished the case from a previous Bombay High Court judgment. The decision was grounded in the specific facts and transactions of the case, emphasizing the profit-driven nature of the share dealings. Case-Laws Income Tax Mon, 27 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275836