Home Highlights August 2016 Year 2016 This

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1. Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently...

2. Income derived from the sale of equity shares - business income or Long Term Capital Gain - the said equity shares not only for one year but for more than 16 years and...

3. Capital gain or salary received - Recognizing the compensation received by the assessee as the share holding of the company - the amount received quivalent to the...

4. Correct head of income - income arising on sale of shares held as capital asset after conversion from stock in trade - business income or capital gains - Tribunal erred...

5. Correct head of income - Lease rent received - to be treated as business income or as income from other sources - There was no attempt to exploit the commercial assets...

6. Exemption u/s. 54EA - transfer of shares held as stock-in-trade - transfer of unlisted shares of DSPML is to be taxed under the head “capital gains” irrespective...

7. Correct head of income - sale consideration received by the assessee from redemption of preference shares including the premium- capital income or income from other...

8. Correct head of income - Gain on sale of shares - nature of purchase of shares either as “investment” or “stock-in-trade” - AO has not given any clear cut finding that...

9. Capital Gain or business income - surplus on sale of shares and securities - the assessee has maintained distinction between trading assets and nontrading assets and has...

10. The case involved determining whether gains from the sale of shares allotted in an IPO should be classified as Short-Term Capital Gains (STCG) or business income. The...

11. Addition u/s 68 - bogus LTCG - share capital and share premium were merely paper credit entries - receipt of accommodation entries in lieu of commission paid - The...

12. Transaction of shares - capital gain or business income - AO has not come to finding whether the assessee has carried out repetitive transactions of same share - treated...

13. Addition u/s 68 - addition in share capital and share premium, identity and creditworthiness of the share holders, valuation report - Since no cash was involved in...

14. Sale of shares - Capital Gains or business income - it will not be appropriate to assess the income declared by the assessee from sale and purchase of shares as business...

15. Receipt of bonus share - investments or stock in trade - original shares were part of stock in trade - bonus shares given by company in proportion to the holding of...