Trust Restricted from Selling Shares as 'Stock-in-Trade' u/ss 112 and 164 of Income Tax Act.

Assessment of trust - Benefit of section 112 read with section 164 - The assessee trust is not free or authorized to sell the shares, held by it on behalf of the settler company, to any person in the free market at fair market price - The shares held by the assessee trust cannot be categorised as 'stock-in-trade' of the assessee trust.” .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X