https://www.taxtmi.com/caselaws?id=435339 HC upheld tribunal's conclusion that gains on sale of shares were long-term capital gains, not business income. Tribunal correctly found investment nature based on capital/reserves, profits, holding period and genuineness of transactions; CIT(A)'s contrary findings (borrowed funds presumption, thin trading/absence of dividends) were reversed. Department's inconsistent treatment for other years was impermissible absent fresh material. CBDT circulars clarifying investment vs stock-in-trade distinctions were held to be at least partially retrospectively beneficial and usable by the assessee on remand. en-us Tue, 14 Mar 2023 00:00:00 +0530 Tue, 14 Oct 2025 14:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435339 HC upheld tribunal's conclusion that gains on sale of shares were long-term capital gains, not business income. Tribunal correctly found investment nature based on capital/reserves, profits, holding period and genuineness of transactions; CIT(A)'s contrary findings (borrowed funds presumption, thin trading/absence of dividends) were reversed. Department's inconsistent treatment for other years was impermissible absent fresh material. CBDT circulars clarifying investment vs stock-in-trade distinctions were held to be at least partially retrospectively beneficial and usable by the assessee on remand. Case-Laws Income Tax Tue, 14 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435339