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Loss on purchase and sale of units of mutual fund cannot be treated as speculation loss
Case Law Details
- Case Name
- Multiplex Trading & Industrial Co. Ltd. Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2001- 2002
- Courts
- All ITAT, ITAT Delhi
RELEVANT PARAGRAPH
8. We have heard both the parties and gone through the material available on records. The assessee is engaged in rendering Business & Management Consultancy and Marketing Services to its various clients against payment of professional fees. The assessee invested Rs 2,00,00,000/ – in 14,38,848.929 units of Sun F &C fund. The dividend of Rs. 43,16,546. 70 received on 22.02.2001 was also reinvested in 4,09,151.252 units of the said fund as per the scheme of reinvestment plan. The investment of Rs 2,00,00,000/ – in units of Sun F & C Fund and investment o...
