Home Highlights April 2019 Year 2019 This

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1. 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...

2. 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...

3. Surplus earned on the sale of plot - ‘capital gain‘ OR ‘business income’ - There is no clause in the partnership deed about making investment in the land and to earn...

4. 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...

5. 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...

6. Business income vs. capital gain - net surplus shown by the assessee is the capital gain on account of the sale/redemption of the assessee's investment and the same is...

7. Capital gain vs Business income - The income from share transactions has been rightly assessed as business income, however, Security Transaction tax (STT) has to be...

8. Sale of shares as Long Term Capital Gain - Period of holding more than 12 months - assessee showing investment in shares in his personal Balance sheet and purchased out...

9. 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...

10. True & Fair view” is not depicted in the Balance Sheet - Generally the decrease in paid up capital can occur in various ways viz buyback of shares, forfeiture of shares,...

11. 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...

12. 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...

13. Gain on sale of shares - capital gains or business income - buy back of shares by the borrowers - the object of trading in shares was lacking in as much as the financial...

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. 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...