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2016 (5) TMI 29 - AT - Income TaxIncome arising from sales of shares - treated as business income or short term capital gain - Held that:- Since the assessee has treated the securities as investment and not as stock in trade in all the years, therefore, in view of the CBDT Circular No. 6/2016 dated 29.02.2016, the revenue is not permitted to take a contrary view in the present year and claimed that the security is stock in trade and, therefore, the profit/gain caused to the assessee be treated as business income. In our view, there is no merit in the contention of the revenue and is deserves to be dismissed in view of the circular. - Decided against revenue
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