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2017 (2) TMI 786 - AT - Income TaxIncome from transaction of purchase and sale of shares - STCG OR business income - Held that:- Transaction in the shares was treated by the Assessing Officer as income from Short Term Capital Gain in the earlier as well as in the subsequent years. No major change of any kind was brought into the notice by the revenue. The rule of consistency has properly been followed. In view of the said circumstances, we are of the view that the CIT(A) has passed the order judiciously and correctly treating the transaction of purchase and sale of shares as STCG instead of business income. - Decided against revenue.
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