https://www.taxtmi.com/caselaws?id=413053 The Tribunal partly allowed the appeal, directing the Assessing Officer to re-determine the classification of income from the sale of shares based on the intention at the time of purchase and relevant legal provisions. The Tribunal emphasized that the period of holding should not be the sole criterion and that the entire lot of shares should be treated consistently based on the initial intention of the assessee. The reliance on the CBDT circular was deemed misplaced, and the Tribunal provided guidance for a more equitable assessment. en-us Wed, 29 Sep 2021 00:00:00 +0530 Mon, 04 Oct 2021 08:58:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413053 The Tribunal partly allowed the appeal, directing the Assessing Officer to re-determine the classification of income from the sale of shares based on the intention at the time of purchase and relevant legal provisions. The Tribunal emphasized that the period of holding should not be the sole criterion and that the entire lot of shares should be treated consistently based on the initial intention of the assessee. The reliance on the CBDT circular was deemed misplaced, and the Tribunal provided guidance for a more equitable assessment. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413053