https://www.taxtmi.com/caselaws?id=752896 ITAT Indore held that share trading income should be characterized as short-term capital gain taxable at 15% under section 111A rather than business income. The tribunal found that 320 transactions over one year, despite including intra-day trading, did not automatically constitute business activity given technological developments and market volatility. The assessee demonstrated varying holding periods and consistent past treatment as capital gains. Regarding land sale through unregistered agreement, the tribunal ruled it constituted long-term capital gain rather than income from other sources, as both parties accepted the transaction's taxability and the asset qualified as long-term capital asset. en-us Tue, 02 Jan 2024 00:00:00 +0530 Mon, 20 May 2024 20:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752896 ITAT Indore held that share trading income should be characterized as short-term capital gain taxable at 15% under section 111A rather than business income. The tribunal found that 320 transactions over one year, despite including intra-day trading, did not automatically constitute business activity given technological developments and market volatility. The assessee demonstrated varying holding periods and consistent past treatment as capital gains. Regarding land sale through unregistered agreement, the tribunal ruled it constituted long-term capital gain rather than income from other sources, as both parties accepted the transaction's taxability and the asset qualified as long-term capital asset. Case-Laws Income Tax Tue, 02 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752896