https://www.taxtmi.com/caselaws?id=286759 The Tribunal upheld the decisions made by the CIT(A) regarding the tax treatment of the conversion of stock-in-trade into investments and the addition of the difference between book value and cost of shares as business income. The Tribunal dismissed both the appeal of the revenue and the appeal of the assessee, affirming that the conversion was not for tax avoidance purposes and directing the profit on the sale of shares to be treated as capital gains. en-us Wed, 30 May 2018 00:00:00 +0530 Sat, 14 Mar 2020 11:12:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286759 The Tribunal upheld the decisions made by the CIT(A) regarding the tax treatment of the conversion of stock-in-trade into investments and the addition of the difference between book value and cost of shares as business income. The Tribunal dismissed both the appeal of the revenue and the appeal of the assessee, affirming that the conversion was not for tax avoidance purposes and directing the profit on the sale of shares to be treated as capital gains. Case-Laws Income Tax Wed, 30 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286759