https://www.taxtmi.com/caselaws?id=443691 The Tribunal held that profits from the sale of shares should be taxed as Long Term Capital Gains (LTCG) and Short Term Capital Gains (STCG) as declared by the assessee. The Tribunal emphasized the intention of the assessee in holding the shares as investments, referencing the Board of Directors' resolution and balance sheet treatment. It found the CIT(A) had no basis to differentiate between LTCG and STCG on the same facts and cited relevant case law supporting the assessee. The appeal by the assessee was allowed, and the Revenue's appeal was dismissed. en-us Mon, 25 Sep 2023 00:00:00 +0530 Fri, 29 Sep 2023 07:42:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443691 The Tribunal held that profits from the sale of shares should be taxed as Long Term Capital Gains (LTCG) and Short Term Capital Gains (STCG) as declared by the assessee. The Tribunal emphasized the intention of the assessee in holding the shares as investments, referencing the Board of Directors' resolution and balance sheet treatment. It found the CIT(A) had no basis to differentiate between LTCG and STCG on the same facts and cited relevant case law supporting the assessee. The appeal by the assessee was allowed, and the Revenue's appeal was dismissed. Case-Laws Income Tax Mon, 25 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443691