https://www.taxtmi.com/caselaws?id=427831 The High Court ruled in favor of the assessee, holding that the gains from shares should be classified as short-term capital gains, not business income. The court emphasized the importance of consistency in tax treatment, aligning with previous assessments and legal precedent. The High Court found that the transactions were reflective of investments, considering the nature of the transactions, the assessee's net worth, and compliance with Section 94(7) requirements. The Tribunal's decision was overturned, and the appeal was allowed in favor of the assessee. en-us Thu, 15 Sep 2022 00:00:00 +0530 Sat, 17 Sep 2022 07:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427831 The High Court ruled in favor of the assessee, holding that the gains from shares should be classified as short-term capital gains, not business income. The court emphasized the importance of consistency in tax treatment, aligning with previous assessments and legal precedent. The High Court found that the transactions were reflective of investments, considering the nature of the transactions, the assessee's net worth, and compliance with Section 94(7) requirements. The Tribunal's decision was overturned, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Thu, 15 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427831