2017 (5) TMI 1113

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..... question and that the said equity shares were transferable through recognised stock exchange meaning thereby that they were listed shares. The Government of India Ministry of Finance Department of Revenue vide Circular No.6 of 2016 of the Central Board of Direct Taxes 29th February, 2016 referring to the earlier circular No. 4 of 2009 dated 15th June, 2007 has laid down that in order to reduce .....

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..... e is directed against the order of the Income Tax Tribunal dated 29.10.2010 in respect of the assessment year 2005-06. The bone of contention in this appeal is whether the income derived from the sale of equity shares would be business income or a Long Term Capital Gain. The facts as stated in the order of the Tribunal reveal that the equity shares were held by the assessee company since 198 .....

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