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2016 (11) TMI 590 - AT - Income TaxShare transaction - Long term/short term capital gain on profit on sale of shares OR business income - assessment was completed by treating the income from business of trading in shares as business income instead of capital gains, computed by the assessee - Held that:- Frequency and magnitude of transaction cannot be the criteria for determining the head of income. The ratio laid down in NEO Polypack (P.) Ltd. (2000 (4) TMI 26 - DELHI High Court ) supports the case of the assessee. Considering the totality of facts and the judicial pronouncements discussed hereinabove, the appeal of the assessee is allowed.
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