Mere Short period of holding shares does not imply that intention was only to trade in security

Court :ITAT, Mumbai Citation :I.T.A.No. 6556/Mum/2009 Assessment Year : 2005-06 Shri Vinod K. Nevatia Vs. The Asst. Commissioner of Income tax, I.T.A.No. 181/Mum/2010 Assessment Year : 2005-06 The Asst. Commissioner of Income tax Vs. Shri Vinod K. Nevatia Brief  : Primarily, the intention with which an assessee starts his activity is the most important factor. If shares are purchased from own funds, with a view to keep the funds in equity shares to earn considerable return on account of enhancement in the value of share over a period then merely because the assessee liqu...