https://www.taxtmi.com/caselaws?id=288657 The Tribunal ruled in favor of the assessee, determining that long term capital gains from the sale of shares should be treated as capital gains, not business income. It acknowledged the conversion of stock-in-trade into investments by the assessee and emphasized the importance of examining the holding period of shares to determine short or long term gains. The Tribunal directed the Assessing Officer to conduct a factual examination to establish the nature of capital gains based on the holding period of shares. The appeals of the assessee were allowed for statistical purposes, highlighting the need for detailed assessment by the Assessing Officer. en-us Tue, 07 Jun 2016 00:00:00 +0530 Sun, 21 Jun 2020 17:41:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288657 The Tribunal ruled in favor of the assessee, determining that long term capital gains from the sale of shares should be treated as capital gains, not business income. It acknowledged the conversion of stock-in-trade into investments by the assessee and emphasized the importance of examining the holding period of shares to determine short or long term gains. The Tribunal directed the Assessing Officer to conduct a factual examination to establish the nature of capital gains based on the holding period of shares. The appeals of the assessee were allowed for statistical purposes, highlighting the need for detailed assessment by the Assessing Officer. Case-Laws Income Tax Tue, 07 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288657