Line trading in shares - speculative transaction - The period of ...

Section 94(7)(b) of Income Tax Act applies to speculative trading in shares from Dec 26, 2003, to Mar 26, 2004.

January 11, 2014

Case Laws Income Tax HC

Line trading in shares - speculative transaction - The period of three months reckoned from the date of purchase of the units on 26.12.2003, would expire on 26.3.2004 - provisions of Section 94(7)(b) were fully applicable - HC

View Source

← Previous Next →

Line trading in shares - speculative transaction - The period of ...

Section 94(7)(b) of Income Tax Act applies to speculative trading in shares from Dec 26, 2003, to Mar 26, 2004.

January 11, 2014

Case Laws Income Tax HC

You may also like:

Loss claimed as business loss - As all the three conditions of section 94(7) are not fulfilled, loss of sale of securities to the extent of dividend income cannot be...

Claim of Rebate of duty on Export made under Rule 18 - Conditions of Notification no. 93/2004-Cs versus Notification no. 94/2004-Cus -Benefit of Notification No. 94/2004...

Applicability of section 94(7) - loss from units which were held for more than three months after the record date and sold thereafter cannot be subjected to...

This case pertains to the precedence and priority of consideration between an application filed u/s 54(C) and Section 7 of the Insolvency and Bankruptcy Code (IBC)...

The Parliament has not only used two different terms namely “securities” and “units” in Section 94(7)(b)(i) and 94(7)(b)(ii) but has dealt with them separately providing...

NCLAT dismissed the appeal, holding that Cumulative Redeemable Preference Shares (CRPS) do not constitute a debt under Section 7 of the Insolvency Code. The Tribunal...

Assessee held shares as stock-in-trade for trading purposes, not to earn dividend income. HC held provisions of Section 14A disallowing expenses relatable to exempt...

Transactions in securities - for application of sub-section 7 of section 94 all the three conditions mentioned in clauses (a), (b) and (c) thereof must be cumulatively...

Short Term Capital Gain arising out of transfer of equity shares - FCCBs/GDRs which were subsequently converted to equity shares - cost of acquisition of underlying...

Claim of LTCG on sale of Mutual Funds - Tribunal committed an error in ignoring the fact that the decision in the case of the assessee for the earlier year was rendered...

Penalty u/s. 271(1)(c) - inadvertent omission of not excluding the short term loss u/s. 94(7) - AO has completed the assessment on the basis of details furnished by the...

CBIC exercised powers under Section 7(1)(a) and 7(2) of Customs Act 1962 to amend Notification 61/94-Customs (N.T.) by designating Rajkot in Gujarat as a customs airport....

The NCLAT held that Section 238 of the IBC gives overriding effect to proceedings u/s 7, despite Section 10 of CPC. Proceedings u/s 7 must proceed, as the Code's...

Demonetization - Scope of the term "Any" - Validity of N/N. 3407(E) dated 8th November 2016, issued by the Central Government in exercise of the powers conferred by...

Addition made towards profit in money market operations - in this case the physical delivery has not taken place and therefore the transactions of sale and purchase of...

Quick Updates: