https://www.taxtmi.com/caselaws?id=278097 The Tribunal ruled in favor of the assessee, directing the income from the sale and purchase of shares within 30 days to be treated as capital gains, not business income. The Tribunal emphasized the importance of the assessee's intention at the time of purchase, consistent treatment by the Revenue, and adherence to CBDT circulars in determining the nature of income from shares. The decision highlighted that frequency and magnitude of transactions alone could not determine income nature, focusing on the classification in the books of accounts. en-us Sun, 07 Jan 2018 00:00:00 +0530 Wed, 09 Jan 2019 06:32:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278097 The Tribunal ruled in favor of the assessee, directing the income from the sale and purchase of shares within 30 days to be treated as capital gains, not business income. The Tribunal emphasized the importance of the assessee's intention at the time of purchase, consistent treatment by the Revenue, and adherence to CBDT circulars in determining the nature of income from shares. The decision highlighted that frequency and magnitude of transactions alone could not determine income nature, focusing on the classification in the books of accounts. Case-Laws Income Tax Sun, 07 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278097