https://www.taxtmi.com/caselaws?id=288640 The Tribunal upheld the Assessing Officer's decision to tax the surplus arising from the conversion of stock-in-trade into investments as business income, not capital gains, for the assessment year 2005-06. The appellant's actions were deemed to be for tax advantage rather than genuine business reasons, leading to the income being classified as business income due to the change in the character of the asset. en-us Thu, 07 Oct 2010 00:00:00 +0530 Sat, 20 Jun 2020 09:56:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288640 The Tribunal upheld the Assessing Officer's decision to tax the surplus arising from the conversion of stock-in-trade into investments as business income, not capital gains, for the assessment year 2005-06. The appellant's actions were deemed to be for tax advantage rather than genuine business reasons, leading to the income being classified as business income due to the change in the character of the asset. Case-Laws Income Tax Thu, 07 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288640