Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2010 (8) TMI 232 - HC - Income Tax
Sale of shares - capital gain or gains of business - assessee was not a trader in stock but only a investor - Assessing Officer guided to hold the income as business income because of the total volume of transaction is substantial - Held that: - total number of shares dealt in respect of long-term portfolio is only 5. This cannot be considered as volume of transaction - transaction in shares cannot be said to be with the intention to deal in such shares - assessable as capital gain and not as profits and of business - Appeal is dismissed