https://www.taxtmi.com/caselaws?id=371825 The Tribunal directed the Assessing Officer to treat a portion of the income from share transactions as business income for the assessment year 2010-11. Specifically, `4,17,413 from sales of shares held for less than 30 days was categorized as business income, while the remaining amount was accepted as short term capital gain. The decision emphasized the importance of consistency in tax treatment, considering the assessee's segregated portfolios and previous treatment of similar transactions. This ruling aimed to balance the taxpayer's approach to portfolio management with the need for uniform tax assessment practices. en-us Wed, 11 Jul 2018 00:00:00 +0530 Wed, 12 Dec 2018 13:33:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371825 The Tribunal directed the Assessing Officer to treat a portion of the income from share transactions as business income for the assessment year 2010-11. Specifically, `4,17,413 from sales of shares held for less than 30 days was categorized as business income, while the remaining amount was accepted as short term capital gain. The decision emphasized the importance of consistency in tax treatment, considering the assessee's segregated portfolios and previous treatment of similar transactions. This ruling aimed to balance the taxpayer's approach to portfolio management with the need for uniform tax assessment practices. Case-Laws Income Tax Wed, 11 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371825