https://www.taxtmi.com/caselaws?id=467072 Listed share sales are analysed as either business income or long-term capital gains based on the assessee's treatment of the holdings, supporting contract notes and purchase-sale records, and the surrounding facts. The note refers to CBDT guidance that listed shares held as investments and transferred after the prescribed holding period are ordinarily treated as capital assets for tax on the surplus. It also states that where the same share-sale profit has already been offered and taxed in an earlier assessment year, the amount cannot be taxed again in a later year. The document therefore states the governing principles on characterisation of share gains and avoidance of double taxation. 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 Listed share sales are analysed as either business income or long-term capital gains based on the assessee's treatment of the holdings, supporting contract notes and purchase-sale records, and the surrounding facts. The note refers to CBDT guidance that listed shares held as investments and transferred after the prescribed holding period are ordinarily treated as capital assets for tax on the surplus. It also states that where the same share-sale profit has already been offered and taxed in an earlier assessment year, the amount cannot be taxed again in a later year. The document therefore states the governing principles on characterisation of share gains and avoidance of double taxation. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467072