https://www.taxtmi.com/caselaws?id=373438 The Court upheld the Tribunal's decision that income from the sale of shares by the Trust was not to be considered as business income but as exempt capital gains under section 10(38) of the Income Tax Act, 1961. The Court found no grounds to interfere, emphasizing factors such as the holding period, intent of the Trust, and the shares being settled rather than purchased by the Trust. Consequently, the Appeal was dismissed, affirming the Tribunal's ruling. en-us Tue, 18 Dec 2018 00:00:00 +0530 Tue, 10 Jan 2023 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373438 The Court upheld the Tribunal's decision that income from the sale of shares by the Trust was not to be considered as business income but as exempt capital gains under section 10(38) of the Income Tax Act, 1961. The Court found no grounds to interfere, emphasizing factors such as the holding period, intent of the Trust, and the shares being settled rather than purchased by the Trust. Consequently, the Appeal was dismissed, affirming the Tribunal's ruling. Case-Laws Income Tax Tue, 18 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373438