Home Highlights September 2013 Year 2013 This

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1. Sale of shares - Capital Gains or business income - it will not be appropriate to assess the income declared by the assessee from sale and purchase of shares as business...

2. Disallowance of set-off u/s 70 of share trading business loss against income from profession - the assessee has been able to substantiate that the shares were purchased...

3. Correct head of income - Gain on sale of shares - nature of purchase of shares either as “investment” or “stock-in-trade” - AO has not given any clear cut finding that...

4. Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently...

5. Gain on sale of shares - Business income or Capital Gains - Adventure in the nature of trade - Just because the assessee has shifted from the IPOs and has made a...

6. Correct head of income - Business Income or capital gain - assessee decided to sale the agriculture land, due to compulsion, hence assessee cannot be treated as a trader...

7. Sale of investments - Short term capital gain V/S business income - The assessee has accounted for these investments in shares as capital asset in its books of accounts...

8. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

9. Income derived from the sale of equity shares - business income or Long Term Capital Gain - the said equity shares not only for one year but for more than 16 years and...

10. Correct head of income - income arising on sale of shares held as capital asset after conversion from stock in trade - business income or capital gains - Tribunal erred...

11. Correct head of income - profit on sale of land /immovable property - business income or capital gain income - Correct head of income - profit on sale of land /immovable...

12. Gain on sale of shares - accommodation entry or not - the income in question is a bonafide Long Term Capital Gain arising from the sale of shares and hence exempt from income tax

13. Correct head of income - Gain on sale of industrial site - capital gain v/s business income - the same being essentially a finding of fact that the sale of Industrial...

14. Exemption u/s. 54EA - transfer of shares held as stock-in-trade - transfer of unlisted shares of DSPML is to be taxed under the head “capital gains” irrespective...

15. Correct head of income - profit arising from sale of shares - LTCG/STCG - The intention of the assessee can also be gathered from the Balance sheet and Financial...