Home Highlights May 2014 Year 2014 This

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1. 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...

2. 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...

3. 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...

4. Sale of Shares, Units and Securities through Portfolio Management Services(PMS) - taxable under the head capital gains and not under the head income from business or...

5. 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

6. Nature of expenditure - addition of write off of investments - the claim of loss accruing or arising as investment in equity shares, non-convertible debentures and zero...

7. Various doubts related to treatment of sales promotion scheme under GST clarified

8. 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...

9. Profit earned on sale of shares - frequency and volume of purchase and sale of shares shows, intention of assessee was to generate income through trade, rather than...

10. Treatment of STCG on income from business – Sale of shares - the assessee has been employed and therefore the assessee has earned salary income - income from sale of...

11. Long term capital loss on sale of equity shares - Approved Amalgamation Scheme - This is a classic case where the Ld.AO had denied the benefit which is statutorily...

12. 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...

13. 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...

14. Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

15. Short Term Capital Gain arising out of transfer of equity shares - FCCBs/GDRs which were subsequently converted to equity shares - cost of acquisition of underlying...