https://www.taxtmi.com/caselaws?id=282494 The Tribunal upheld the Ld.CIT(A)'s decision in the appeal against the Revenue for Assessment Year 2008-09. It affirmed the classification of income from the sale of shares as short term capital gain, allowed the setting off of short term capital gain against business losses, and permitted the disallowance of loss due to changes in client codes as a business loss. The Tribunal rejected the Revenue's arguments, emphasizing the legitimate nature of transactions conducted on a recognized stock exchange. en-us Fri, 14 Dec 2012 00:00:00 +0530 Fri, 09 Aug 2019 14:31:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282494 The Tribunal upheld the Ld.CIT(A)'s decision in the appeal against the Revenue for Assessment Year 2008-09. It affirmed the classification of income from the sale of shares as short term capital gain, allowed the setting off of short term capital gain against business losses, and permitted the disallowance of loss due to changes in client codes as a business loss. The Tribunal rejected the Revenue's arguments, emphasizing the legitimate nature of transactions conducted on a recognized stock exchange. Case-Laws Income Tax Fri, 14 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282494