A person can be both trader and investor in respect of shares

The appeal of the revenue and the cross objection of the assessee is directed against the order dated 19-01-2015 passed by Ld CIT(A)-45, Mumbai and it relates to the assessment year 2010- 11. The revenue is aggrieved by the decision of Ld CIT(A) in holding that the gains arising on sale of shares is assessable as Capital gains only. The assessee has filed cross objection taking an alternative plea that if the decision of the AO is upheld, then the brought forward losses arising on sale of shares should also be treated as business loss and set off be given. 2. We heard the parties and perused ...