[aaykarbhavan] Income from share transactions couldn’t be held as business profits due to few instances ofsale in quick time

 

Income from share transactions couldn't be held as business profits due to few instances ofsale in quick time

November 18, 2014[2014] 50 taxmann.com 130 (Allahabad)

IT : Where assessee was not engaged in business of purchase and sale of shares, merely because in certain instances shares were sold before completion of a year was no reason to treat said income as business income when assessee had duly shown it as short-term capital gain

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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