Business profit vs STCG

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Business profit vs STCG
Query (Issue) Started By: - DEV KUMAR KOTHARI Dated:- 28-12-2008 Last Reply Date:- 31-12-2008 Income Tax
Got 1 Reply
Income Tax
Whether a professional person like .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... CA,CS, CWA, doctor, engineer, advocate etc. or a director, company executive can be considered as a 'share trader' instead of 'investor', merely becasue his volume of transactions in sahres, units is .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... high and some time borrowed money is also used. Whether it will be proper for the A.O. to treat transactions in shares and units resulting in business profit and not STCG? In my view such view will be .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... patently wrong because such persons are not known as trader of shares or units by the persons who know to him in commercial world, furthermore, nvestmetn is a commercial adventure and not a trading v .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... enture. Shares are capital assets of commercial venture and not stock-in-trade of adventure in nature of trade. Reply By Surender Gupta: The Reply: Not only the department but assessee also is in dil .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... emma while deciding the issues related to taxability of the transaction in shares. Our legislatures must come out with reasonable solutions to address this issue and to mitigate the litigation.
Di .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... scussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X