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2016 (3) TMI 464 - HC - Income TaxCapital gain v/s business income - nature of income - Held that:- All the facts concluded that the respondent assessee has subsequent to the Resolution of its Board made investment in shares as investments. The gains / loss earned on these investments were held to be chargeable to tax under the head capital gains on consideration of all facts and application of applicable law i.e. well settled test to distinguish between gains of trading and capital gains. In the above view, as two authorities have come to concurrent findings of fact that the claim made for short term capital gains and long term capital gains by the respondent assessee was justified. This findings of fact has not been shown to be perverse and / or arbitrary giving rise to any question of law.
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