https://www.taxtmi.com/caselaws?id=467072 Gains from the sale of listed shares treated as investments, supported by contract notes and purchase-sale records, were assessed as long-term capital gains rather than business income. The relevant CBDT circular recognises that listed shares held as investments and transferred after the prescribed holding period should ordinarily be treated as capital assets, subject to the facts. Acceptance of remaining holdings in the same shares as capital assets in later years supported that treatment. Profit from other share transactions, already offered and taxed in an earlier assessment year, could not be taxed again in a subsequent year; no separate taxable gain survived. en-us Wed, 12 Mar 2025 00:00:00 +0530 Wed, 04 Mar 2026 17:18:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467072 Gains from the sale of listed shares treated as investments, supported by contract notes and purchase-sale records, were assessed as long-term capital gains rather than business income. The relevant CBDT circular recognises that listed shares held as investments and transferred after the prescribed holding period should ordinarily be treated as capital assets, subject to the facts. Acceptance of remaining holdings in the same shares as capital assets in later years supported that treatment. Profit from other share transactions, already offered and taxed in an earlier assessment year, could not be taxed again in a subsequent year; no separate taxable gain survived. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467072