Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (9) TMI 686 - AT - Income TaxCapital Gain - Assessee is a Dealer in shares - Whether the person is a Dealer in shares or an Investor - Whether the transaction of sale and purchase of shares is a trading transaction or whether it is in the nature of investment – Held that:- As it is not a case where the assessee is holding large number of shares or volume of transaction is high. Assessee is carrying on the sale and purchase of shares activity in an organized way to characterize it as a trading activity. Whereas holding period of the script pertains to major value in capital gain is eight months and there is not a repetitive transaction in the script. Therefore the profit thereon should be considered as short term capital gain. Decision in favour of assessee
|