https://www.taxtmi.com/caselaws?id=371452 The Court upheld the Tribunal's decision classifying the gain on the sale of shares as short term capital gain instead of business income for the Assessment Year 2008-09. The Court emphasized the distinction between trading and investment portfolios, highlighting that the shares were held for less than 12 months, aligning with legislative provisions for short term capital gains. The Court found the Tribunal's decision reasonable based on the respondent's prudent investment practices and market monitoring, dismissing the appeal as it did not raise any substantial question of law. en-us Mon, 26 Nov 2018 00:00:00 +0530 Tue, 04 Dec 2018 09:01:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371452 The Court upheld the Tribunal's decision classifying the gain on the sale of shares as short term capital gain instead of business income for the Assessment Year 2008-09. The Court emphasized the distinction between trading and investment portfolios, highlighting that the shares were held for less than 12 months, aligning with legislative provisions for short term capital gains. The Court found the Tribunal's decision reasonable based on the respondent's prudent investment practices and market monitoring, dismissing the appeal as it did not raise any substantial question of law. Case-Laws Income Tax Mon, 26 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371452