Nature of income - profit earn on sale of shares - STCG or ...

April 22, 2019

Case Laws Income Tax HC

Nature of income - profit earn on sale of shares - STCG or Business Income - in the earlier assessment years the assessee had consistently shown the receipts of sale of share as capital gain which the revenue had also accepted - AO desired to tax income as business income in the current year, in view of the change in tax rates, which was same in the earlier years - held as STCG - no question of law arises

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Nature of income - profit earn on sale of shares - STCG or ...

April 22, 2019

Case Laws Income Tax HC

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The case pertains to the validity of reopening of assessment by the Assessing Officer (AO) and the characterization of short-term capital gains (STCG) from the sale of...

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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...

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Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

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Income earned profit on sale of mutual funds - capital gain OR business income - Holding period of the assessee is minimum of 72 days and maximum of 186 days - profit of...

Business income OR STCG - Sale of shares – purchases as well as turnover are continually increasing and the assessee has regularly dealt in purchase and sales of shares...

Income from sale of shares – Income treated as business income OR STCG – the assessee decides to take delivery of shares purchased by her only at the end of the day...

The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

Treatment of income – STCG or Business income – Trading in shares and securities - It is only the net income so arrived at that would stand to be assessed as 'business income' - AT

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