Correct head of income - Income from capital gains or business ...
Income Classification: Determine if Share Trading Earnings are Business Income or Capital Gains Under Tax Rules.
September 16, 2019
Case Laws Income Tax AT
Correct head of income - Income from capital gains or business income - the business activity of the assessee is trading in shares, there can be a presumption that the amount claimed was derived through trade; in such case, the assessee has to establish that the impugned amount was indeed invested and the proceeds of sales were of a capital asset. - AT
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