Though main object is to do business in shares, shares can be held as a capital asset

Court : Delhi High Court

Citation : CIT, New Delhi Vs M/s PNB Finance & Industries Ltd (Dated: October 20, 2010)

Brief : Whether, only because the assessee can deal in shares as per the memorandum of objects, any transactions undertaken by the assessee for sale or purchase of shares, in the earlier years is to be treated as busines

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