https://www.taxtmi.com/caselaws?id=428489 Short-term gains on shares held as investments were not assessable as business income where the assessee's intention and the surrounding facts showed an investment portfolio rather than trading activity. The Court applied the settled distinction between shares held as investment and stock-in-trade, noted that a taxpayer may maintain separate investment and trading portfolios, and treated holding period as only one relevant factor. Separate accounts, use of surplus funds, demat classification as investments, and acceptance of substantial investment income as capital gains supported the conclusion that the disputed transactions retained investment character. The gains were therefore assessable as short-term capital gains, not business income. en-us Fri, 30 Sep 2022 00:00:00 +0530 Fri, 30 Sep 2022 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428489 Short-term gains on shares held as investments were not assessable as business income where the assessee's intention and the surrounding facts showed an investment portfolio rather than trading activity. The Court applied the settled distinction between shares held as investment and stock-in-trade, noted that a taxpayer may maintain separate investment and trading portfolios, and treated holding period as only one relevant factor. Separate accounts, use of surplus funds, demat classification as investments, and acceptance of substantial investment income as capital gains supported the conclusion that the disputed transactions retained investment character. The gains were therefore assessable as short-term capital gains, not business income. Case-Laws Income Tax Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428489