Held that the purchase of shares in the earlier years shown as investment which was accepted by the Revenue. The intention being investor, the sale of shares has to be assessed as capital gains and not as business income. (AY. 2007-08, 2010-11)
Amritlal Batra v. Add. CIT(2023) 226 TTJ 917/ (2024) 110 ITR 127/ 160 taxmann.com 236 (Amritsar)(Trib)
S. 45 : Capital gains-Business income-Sale of shares-Shown as investment-Assessable as capital gains and not as business income.[ S. 28(i)]