Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2007 (7) TMI 252 - HC - Income Tax
Business of investment in shares and securities – purchase of shares - Assessee had no intention to trade in shares – so shares purchased could not be said business asset in hands of assessee and it had been rightly offered under head “Capital gains” – it was only an investment activity, that the interest paid for acquisition of shares would partake of the character of cost of the shares and therefore it was rightly capitalized along with the cost of acquisition of shares