Gain from Sale of Equity share taxable as capital gain for Lack of regularity & isolated instances

Swatiben Anilbhai Shah Vs DCIT (ITAT Ahmedabad) The solitary issue for adjudication on merits is whether gains arising on sale of certain quantity of shares of a company, namely, Pyramid Siamira Theatre Ltd. (PSTL) by the assessee in the relevant assessment order is required to be taxed under the head ‘capital gains’ as offered by the assessee or is to be treated as ‘business income’ of the assessee. The issue involved is essentially factual in nature. As regards the justification on the claim of short term capital gain (STCG), it is the case of the assessee that the gains in question ...