https://www.taxtmi.com/caselaws?id=442585 The Appellate Tribunal held that the short term capital gain from the sale of shares should be treated as capital gain, not business income. The Tribunal considered the assessee's separate portfolios for investment and trading, categorizing income accordingly, and overturned the Assessing Officer's decision based on the intent and frequency of transactions. The appeal was allowed, directing the Assessing Officer to classify the gain as short term capital gain, in line with precedents like CIT Vs. HK Financers Pvt. Ltd. en-us Tue, 22 Aug 2023 00:00:00 +0530 Mon, 04 Sep 2023 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442585 The Appellate Tribunal held that the short term capital gain from the sale of shares should be treated as capital gain, not business income. The Tribunal considered the assessee's separate portfolios for investment and trading, categorizing income accordingly, and overturned the Assessing Officer's decision based on the intent and frequency of transactions. The appeal was allowed, directing the Assessing Officer to classify the gain as short term capital gain, in line with precedents like CIT Vs. HK Financers Pvt. Ltd. Case-Laws Income Tax Tue, 22 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442585