https://www.taxtmi.com/caselaws?id=373484 The Income Tax Appellate Tribunal (ITAT) allowed the appeal, holding that income from share transactions should be treated as short term capital gains, not business income. The ITAT considered the appellant's consistent treatment of shares as investments, in line with a CBDT Circular, emphasizing the taxpayer's intention behind the transactions. This decision aligned with the Circular's guidelines and aimed to reduce uncertainty and litigation in such cases. The ITAT's ruling upheld the appellant's position and dismissed the revenue's argument, providing clarity on the classification of income from share transactions. en-us Fri, 11 Jan 2019 00:00:00 +0530 Wed, 10 Apr 2019 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373484 The Income Tax Appellate Tribunal (ITAT) allowed the appeal, holding that income from share transactions should be treated as short term capital gains, not business income. The ITAT considered the appellant's consistent treatment of shares as investments, in line with a CBDT Circular, emphasizing the taxpayer's intention behind the transactions. This decision aligned with the Circular's guidelines and aimed to reduce uncertainty and litigation in such cases. The ITAT's ruling upheld the appellant's position and dismissed the revenue's argument, providing clarity on the classification of income from share transactions. Case-Laws Income Tax Fri, 11 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373484