Home Highlights July 2014 Year 2014 This

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1. 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...

2. 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

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. 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. 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...

6. Gain from sale of shares - STCG or business income - CBDT Circular No.6/2016 - it is not the case of the AO that the assessee was churning the shares, buying and selling...

7. Treatment of sale of equity shares under Portfolio management scheme – Business income OR capital gains – Tribunal had erred in holding the transactions to be income...

8. 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...

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

10. 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...

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

12. Disallowance of loss on sale of shares being stock in trade - The transaction in question, since was not related to the business activity of the assessee, therefore, the...

13. 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...

14. 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...

15. 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...