https://www.taxtmi.com/caselaws?id=400839 The Tribunal directed the Ld. AO to treat the income from the sale of equity shares as "Short Term Capital Gain" or "Long Term Capital Gain" based on the assessee's classification of the shares as investments. The Tribunal noted that the intention of the assessee was clear from the Balance Sheet, confirming the shares as "investments." The delay in pronouncing the order was attributed to the Covid-19 lockdown, but the decision aligned with a similar Mumbai Tribunal ruling. Consequently, the appeal of the assessee was allowed, and the decision was rendered on 8th July 2020. en-us Wed, 08 Jul 2020 00:00:00 +0530 Fri, 20 Nov 2020 13:15:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400839 The Tribunal directed the Ld. AO to treat the income from the sale of equity shares as "Short Term Capital Gain" or "Long Term Capital Gain" based on the assessee's classification of the shares as investments. The Tribunal noted that the intention of the assessee was clear from the Balance Sheet, confirming the shares as "investments." The delay in pronouncing the order was attributed to the Covid-19 lockdown, but the decision aligned with a similar Mumbai Tribunal ruling. Consequently, the appeal of the assessee was allowed, and the decision was rendered on 8th July 2020. Case-Laws Income Tax Wed, 08 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400839