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2013 (12) TMI 418 - HC - Income TaxTransactions to be treated as Capital Gains or business income - Held that:- The delivery based transactions were made with an investment motive and as such, the income therefrom was in the nature of short-term capital gains whereas the income from F & O transactions and daily trading in shares were with the business motive, which were showed as business income only - As per the Board Circular No. 4 of 2007 issued on June 15, 2007 - It is possible for a taxpayer to have two portfolios, namely, an investment portfolio comprising the securities, which are to be treated as capital assets and trading portfolio comprising stock-in-trade, which are to be treated as trade asset - No single principle would be decisive and the total proposition is to be considered - Decided against Revenue.
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