https://www.taxtmi.com/caselaws?id=426359 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, determining that the sale consideration from the transfer of shares should be treated as capital gains and not business income. The ITAT dismissed the Revenue's appeals, concluding that Section 94(7) of the Income Tax Act was not applicable to the assessee's transactions. The appeals by the assessee were allowed, while those by the Revenue were dismissed. en-us Wed, 10 Aug 2022 00:00:00 +0530 Tue, 16 Aug 2022 09:03:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426359 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, determining that the sale consideration from the transfer of shares should be treated as capital gains and not business income. The ITAT dismissed the Revenue's appeals, concluding that Section 94(7) of the Income Tax Act was not applicable to the assessee's transactions. The appeals by the assessee were allowed, while those by the Revenue were dismissed. Case-Laws Income Tax Wed, 10 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426359