Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Short term capital gains OR business income - no transaction ...


Profits Classified as Short-Term Capital Gains, Not Business Income, by Commissioner of Income Tax (Appeals) Decision.

May 5, 2016

Case Laws     Income Tax     AT

Short term capital gains OR business income - no transaction carried out in more than ½ of the relevant previous year - CIT(A) rightly treated assessee’s profits as short term capital gain and not business income - AT

View Source

 


 

You may also like:

  1. Short term capital gain or business profit on sale of shares - Delivery based transaction should be treated as of the nature of investment transactions and profit...

  2. Capital gains u/s 50 arising from the sale of long-term capital assets, though deemed as short-term capital gains, should be taxed at the rates applicable to long-term...

  3. Revision u/s 263 by CIT - set off of brought forward business loss from the income assessable under the head 'Capital Gain' - gain of depreciable assets by entering into...

  4. Capital gains taxation streamlined with short-term gains on certain financial assets attracting 20% tax and long-term gains on all assets attracting 12.5% tax. Exemption...

  5. Set off the business losses against the capital gains u/s 71 - The assessee in the return of income did not set off the business loss against the short term capital gain....

  6. Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

  7. Set off of carried forward Business losses against the Short Term Capital Gains u/s 72 - the gain on sale of office premises represents profits of business - the brought...

  8. LTCG - Period of holding of asset - deduction u/s 54 - So far as the residential building/house constructed on the said land is concerned, it was constructed in ay:...

  9. LTCG or STCG - Sale of ground floor of residential unit - whether it give rise to long term capital gains or short term capital gains - Computation from period of...

  10. The Appellate Tribunal considered whether the sale proceeds of residential units should be treated as capital gains or business receipts. It was found that the...

  11. The ITAT Mumbai addressed errors in capital gain computation. The Assessee's claim of ₹ 859,680 was accepted over the AO's ₹ 791,221. An application u/s 154...

  12. Portfolio Management Services (PMS) fees paid is eligible for deduction while computing Short Term Capital Gain

  13. Computation of short term capital gain - Deduction of Title Perfection Cost - assessee was eligible for deducting such amount while computing short-term capital gains - AT

  14. Rate of tax - 20% or 30% - share of depreciable assets - In the present case, it is not the plea of the Revenue that the property from which the capital gains arose was...

  15. Short term capital gain or business income - Purchases in the same scrip on the same day has been divided into speculation and investment - the only intention of the...

 

Quick Updates:Latest Updates