Wednesday, April 29, 2015

[aaykarbhavan] Mere liquidation of shares in short span of time doesn't mean that assessee was doing business in shares



Mere liquidation of shares in short span of time doesn't mean that assessee was doing business in shares

April 28, 2015[2015] 55 taxmann.com 474 (Mumbai - Trib.)
IT: Where assessee made INVESTMENT in shares with intention to earn dividend income, merely because she liquidated its investment within a short span of time which had given better overall earning to her, it could not be concluded that assessee was doing business in shares and profit arising from sale of shares was taxable as business income
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Regards
Prarthana Jalan


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


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