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2012 (5) TMI 310 - AT - Income TaxShort term capital gain or business income - dealing in shares and securities - held that:- The detail of such investment through computer itself shows that assessee smartly but intentionally switched over its trading business to the investment business to have undue advantage of lower tax rate provided for short term capital gain - the intention of the assessee appears to be whimsical. - Purchases in the same scrip on the same day has been divided into speculation and investment - the only intention of the assessee in the impugned case is just to reduce the tax liability by treating a part of the profit as short term capital gain - Decided against the assessee
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