Income from listed shares & securities treated as stock-in-trade taxable as business income

Chandra Ramesh Vs ACIT (ITAT Chennai) ITAT Chennai held that income from listed shares and securities which had been treated as stock in trade by assessee is taxable under the head income from business and profession and not under the head capital gain. Facts- The assessee is an individual and engaged in the business of trading in shares and securities and also rendering consultancy services in the financial sector. The assessee was a member of Bangalore Stock Exchange in individual capacity and a director of CFRS, a member of NSE. The assessee had filed his return of income for the assessment...