Shares/securities/PMS/Mutual fund held as investment taxable under capital gains

DCIT Vs Hero Investment Pvt. Ltd. (ITAT Delhi) ITAT Delhi held that income from sale of shares/securities/PMS/Mutual Funds, etc. which were held as investment and not as stock-in-trade is taxable under the head capital gains and not under the head business income. Facts- Revenue has preferred the present appeal mainly contesting that CIT(A) has erred in directing the AO to treat the income of the assessee from sale of shares/securities/ PMS/Mutual Funds etc and income under the head “Capital Gains” instead of “Income from Business”. Conclusion- Held that the Ld.CIT(A) a...