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Reduce litigation and maintain consistency assessments of income arising from transfer of unlisted shares no formal market exists for trading.

Income Tax - LETTER F.NO.225/12/2016/ITA.II - Dated:- 2-5-2016 - LETTER F.NO.225/12/2016/ITA.II DATED 2-5-2016 Regarding characterisation of income from transactions in listed shares and securities, Central Board of Direct Taxes ('CBDT') had .....

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hich are held for more than twelve months would be taxed under the head 'Capital Gain' unless the taxpayer itself treats these as its stock- in-trade and transfer thereof as its business income. It was further stated that in other situations, .....

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ed has been felt to have a consistent view in assessments pertaining to such income. It has, accordingly, been decided that the income arising from transfer of unlisted shares would be considered under the head 'Capital Gain', irrespective of .....

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