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Profit from sale of shares held for more than 17 months rightly treated as long-term capital gain: HC

August 23, 2019[2019] 107 182 (Bombay)/[2019] 264 Taxman 320 (Bombay)/[2019] 413 ITR 143 (Bombay)

INCOME TAX : Where assessee had purchased shares out of his own funds and held them for over seventeen months against locking period of one year before sale and in earlier years, Assessing Officer had accepted sale consideration from sale of shares to be capital gain, profit on sale of shares by assessee was to be treated as long term capital gain and not business income
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