https://www.taxtmi.com/caselaws?id=420779 The Appellate Tribunal ITAT Kolkata ruled in favor of the assessee regarding the classification of gains from the purchase and sale of shares as short term capital gain instead of business income for the Assessment Year 2013-14. The Tribunal considered factors such as the nature of share transactions, source of investment, holding period, and consistency in treating similar gains as capital gains in previous years. Emphasizing that the investment was not from borrowed funds and transactions were conducted on a delivery basis, the Tribunal allowed the appeal in favor of the assessee, highlighting the importance of these aspects in determining the tax treatment of share transactions. en-us Thu, 31 Mar 2022 00:00:00 +0530 Sat, 09 Apr 2022 07:55:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420779 The Appellate Tribunal ITAT Kolkata ruled in favor of the assessee regarding the classification of gains from the purchase and sale of shares as short term capital gain instead of business income for the Assessment Year 2013-14. The Tribunal considered factors such as the nature of share transactions, source of investment, holding period, and consistency in treating similar gains as capital gains in previous years. Emphasizing that the investment was not from borrowed funds and transactions were conducted on a delivery basis, the Tribunal allowed the appeal in favor of the assessee, highlighting the importance of these aspects in determining the tax treatment of share transactions. Case-Laws Income Tax Thu, 31 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420779