https://www.taxtmi.com/caselaws?id=396058 The High Court ruled that income from the sale of shares held as capital assets after conversion from stock in trade should be treated as capital gains, not business income. The Court emphasized statutory interpretation principles and noted the absence of relevant provisions in the Income Tax Act at the time. The decision favored the assessee, overturning the tribunal's order and allowing the appeal. en-us Thu, 11 Jun 2020 00:00:00 +0530 Sat, 29 Aug 2020 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396058 The High Court ruled that income from the sale of shares held as capital assets after conversion from stock in trade should be treated as capital gains, not business income. The Court emphasized statutory interpretation principles and noted the absence of relevant provisions in the Income Tax Act at the time. The decision favored the assessee, overturning the tribunal's order and allowing the appeal. Case-Laws Income Tax Thu, 11 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396058