When income from sale of shares can be said to be income from business

IN THE ITAT MUMBAI BENCH ‘B’ Manish P. Gandhi V/s.  ACIT IT APPEAL NOS. 5290 (MUM.) OF 2008 & 6430 (MUM.) OF 2009 [ASSESSMENT YEARS 2005-06 & 2006-07] Date of pronouncement – 29.07.2011 ORDER N.V. Vasudevan, Judical Member ITA No.5290/M/08 is an appeal by the assessee against the order dated 11/6/2008 of CIT(A) 25, Mumbai relating to assessment year 2005-06, while ITA No.6430/M/09 is an appeal by the revenue against the order dated 29/9/2009 of CIT(A)-35, Mumbai relating to assessment year 2006-07. We shall first take up for consideration appeal by ...