Correct head of income - shares transactions- Capital gain or ...

Income Tax

July 2, 2019

Correct head of income - shares transactions- Capital gain or business income - there cannot be any straight jacket formula and there should not be a sweeping conclusion but a case to case test or approach should be adopted - regularity in purchase and sale of shares for several years and payment substantial professional fees in its endeavour to corner gains from market fluctuations show clear commercial motive - business income

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Correct head of income - shares transactions- Capital gain or ...

Income Tax

July 2, 2019

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Bogus purchases - The assessee has only produced certain self-serving evidences in a straight-jacket formula normally collected in this type of transaction - Additions confirmed.

Transaction of shares - capital gain or business income - AO has not come to finding whether the assessee has carried out repetitive transactions of same share - treated...

Sale of Shares, Units and Securities through Portfolio Management Services(PMS) - taxable under the head capital gains and not under the head income from business or...

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Surplus of shares transactions - long term capital gains or business profits - mere volume of transactions transacted by the assessee would not alter the nature of...

Transaction of shares - Capital gain v/s business income - use of funds from business accounts for personal purposes or vice versa cannot alter the nature of investment - AT

Treatment of sale of equity shares under Portfolio management scheme – Business income OR capital gains – Tribunal had erred in holding the transactions to be income...

Income earned by assessee on sale/purchase of shares and securities through PMS is to be assessed under the head “capital gains“ and not as business income of the assessee - AT

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...

Correct head of income - business profit or Long Term Capital Gains - GPA was restricted to the extent of builder’s right at 73.33% of the land and that portion allotted...

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