https://www.taxtmi.com/caselaws?id=380877 The High Court upheld the Tribunal's decision that profits from the sale of shares were capital gains, not business income, based on the principle of consistency. Dividend income was deemed exempt under Section 10(34) of the Income Tax Act. The Court emphasized the importance of consistency in tax treatment and dismissed the revenue's appeals, affirming the Tribunal's decisions on all issues, including the treatment of unclaimed refunds and verification of income from industrial area activities. en-us Mon, 04 Feb 2019 00:00:00 +0530 Mon, 05 Oct 2020 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380877 The High Court upheld the Tribunal's decision that profits from the sale of shares were capital gains, not business income, based on the principle of consistency. Dividend income was deemed exempt under Section 10(34) of the Income Tax Act. The Court emphasized the importance of consistency in tax treatment and dismissed the revenue's appeals, affirming the Tribunal's decisions on all issues, including the treatment of unclaimed refunds and verification of income from industrial area activities. Case-Laws Income Tax Mon, 04 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380877