https://www.taxtmi.com/caselaws?id=377087 The High Court upheld the Tribunal's decision to treat gains from the sale of shares held for less than 30 days as business income. The court found the Tribunal's demarcation based on the holding period reasonable, considering the appellant's trading activities and income generated. The appellant's argument that the holding period alone should not determine classification was acknowledged but not accepted. The High Court dismissed the Income Tax Appeal, stating no legal question arose from the Tribunal's decision. The issue of disallowance under Section 14A for the assessment year 2007-08 was not pursued by the appellant and was not further considered by the court. en-us Tue, 12 Mar 2019 00:00:00 +0530 Thu, 21 Mar 2019 05:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377087 The High Court upheld the Tribunal's decision to treat gains from the sale of shares held for less than 30 days as business income. The court found the Tribunal's demarcation based on the holding period reasonable, considering the appellant's trading activities and income generated. The appellant's argument that the holding period alone should not determine classification was acknowledged but not accepted. The High Court dismissed the Income Tax Appeal, stating no legal question arose from the Tribunal's decision. The issue of disallowance under Section 14A for the assessment year 2007-08 was not pursued by the appellant and was not further considered by the court. Case-Laws Income Tax Tue, 12 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377087