https://www.taxtmi.com/caselaws?id=406563 The Tribunal upheld the CIT(A)'s decision that the profit earned by the assessee on the sale of shares should be classified as short-term capital gain (STCG) and not business income. The Tribunal noted the low frequency of transactions, separate portfolios for investment and trading, and the nature of the shares held as investments. The assessee's transactions were deemed to be for investment purposes, leading to the dismissal of the Revenue's appeal and the affirmation of the CIT(A)'s findings. en-us Thu, 08 Apr 2021 00:00:00 +0530 Sat, 17 Apr 2021 11:05:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406563 The Tribunal upheld the CIT(A)'s decision that the profit earned by the assessee on the sale of shares should be classified as short-term capital gain (STCG) and not business income. The Tribunal noted the low frequency of transactions, separate portfolios for investment and trading, and the nature of the shares held as investments. The assessee's transactions were deemed to be for investment purposes, leading to the dismissal of the Revenue's appeal and the affirmation of the CIT(A)'s findings. Case-Laws Income Tax Thu, 08 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406563