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Income Tax - Highlights / Catch Notes

Home Highlights March 2023 Year 2023 This

Gain on sale of shares - long-term capital gain or profits and ...


High Court: Circulars Can Retroactively Classify Share Sale Gains as Investment or Business Profits, Impacting Tax Liabilities.

March 17, 2023

Case Laws     Income Tax     HC

Gain on sale of shares - long-term capital gain or profits and gains of business - distinction between “investment” and “stock-in-trade” - the circulars can be referred to by the assessee and they being at least partially beneficial to the assessee has to be held to be retrospectively applicable in so far as the instructions/clarifications which enure in favour of the assessee’s. - HC

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