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2017 (2) TMI 549 - HC - Income TaxIncome arising from sale of shares /mutual funds - capital gain OR business income - Held that:- Considering the material on record, more particularly, number of transactions, holding period and the treatment given with respect to similar income in the earlier Assessment Years when the similar income is considered as capital gain and not treated as business income, it cannot be said that the learned CIT(A) as well as the learned tribunal have committed any error in holding the income of the assessee arising from sale of shares /mutual funds for which short term capital gain /long term capital gain was claimed, as capital gain instead of business income.
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