Tax on sale of shares by promoters

You will have to check whether the shares are held as a capital asset or as a business asset. If it held as a capital asset (most likely) it will be treated as capital gains. 

For more information contact me at capraveenmr @ gmail.com or comment at www.capraveenmr.wordpress.com

Dear Praveen, Thanks for your response. But how will it be determined whether the asset is a capital asset or business asset in the hands of promoters. I believe in Income tax, matters can only be fought either on interpretation of relevant provision or case laws. Please provide me the link of concerned article if you have written. Thanks.