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Income Tax - Highlights / Catch Notes

Home Highlights April 2015 Year 2015 This

Business of advancing money and cash - capital asset v/s ...

Income Tax

April 25, 2015

Business of advancing money and cash - capital asset v/s stock-in-trade - From the application of funds it cannot be said that the principal business of the assessee is borrowing and lending money. - HC

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  3. Capital gain - effective date of Conversion of capital asset into stock in trade - till the time the owner himself either converts the capital asset into stock-in-trade,...

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  6. investments made by the banking company should be treated as a business asset of the banking company or stock-in-trade - AT

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  8. Classification of head of Income – adventure in the nature of trade or sale of capital asset - sale of property after getting the flats constructed - taxable as capital...

  9. Shares converted into stock-in-trade - Valuation adopted for conversion of investments to stock-in-trade, opening stock and closing stock - where an assessee converts...

  10. Disallowance u/s 14A r.w.r. 8D - sourcing of investment from borrowed funds or own funds - investment is taken as stock-in-trade - ex-parte order - additions confirmed.

 

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