Sale of shares-Capital Gain or business income ? ITAT explains law in assessee's favour quoting CBDT Instructions / Circulars and…
Frequency, magnitude of transaction in systematic manner no criteria to hold that the assessee is engaged in a business activity…
Repeated purchase of same scrip and immediate sale on daily basis to take advantage of the market fluctuations was business…
Business income or STCG-Frequency-repetition of sale purchase not conclusive. Factors like main business / profession of assessee, intention while purchasing…
Sale-purchase in only few share scrips not high volume. STCG was not business income as a person can act both…
STCG-LTCG of NBFC held as capital gains not business income based on broad principles as laid down by various judicial…
Share STCG not become business income by employment of Portfolio Management Service (PMS) for investment in shares. This was held…
In a recent judgment, ITAT has held that the sale of shares by the assessee was not business income but…