Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2006 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2006 (4) TMI 112 - HC - Income TaxRevenue plea is that income from purchase and sale of debentures and shares should be treated as “income from other sources” (not as “business income”) and hence, no set off was allowed against the so called loss carried forward from the previous years – Assessee is carrying on the business of acquiring and selling shares stocks and debentures hence income/loss from the sale of debentures/shares was a “business income/loss” not “income/loss from other sources” – revenue appeal dismissed
|