Home Highlights May 2014 Year 2014 This

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1. Profit from share trading business - STCG or Business income - holding period was less than 12 months - held as income from business.... – AT

2. 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...

3. 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...

4. 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...

5. 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...

6. 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...

7. 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...

8. Capital gain vs Business income - The income from share transactions has been rightly assessed as business income, however, Security Transaction tax (STT) has to be...

9. Gain on sale of shares - Business income or Capital Gains - Adventure in the nature of trade - Just because the assessee has shifted from the IPOs and has made a...

10. Revision u/s 263 - set off of loss in speculation business against business income - In the present case, the principle business of the assessee is trading in shares....

11. Disallowance u/s 14A - profits from shares where held as stock in trade and not as investments - The sum and substance of ratio laid down by the Hon’ble Supreme Court...

12. Disallowance of set-off u/s 70 of share trading business loss against income from profession - the assessee has been able to substantiate that the shares were purchased...

13. Income from sale of shares - business income OR capital gain - trading of under lying assets (land) of the subsidiary companies - sale of shares can not be treated as...

14. 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...

15. Income from share trading - since long and major source of income is from trading in shares only and if such assessee subsequently opts to show transactions of purchase...