This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Income from frequent Sale/Purchase of shares within small duration is business Gain
Case Law Details
- Case Name
- Dy CIT Vs M/s Divya Shakti Trading Services Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
DCIT Vs M/s Divya Shakti Trading Services Ltd. (ITAT Delhi)
In this case assessee has purchased and sold scrips multiple times, on various dates alleged to have been held as investment within small duration. The magnitude of purchases on each date has been very large in respect of all these shares. Thus in our considered opinion frequency and volume of purchase and sale of shares shows, intention of assessee was to generate income through trade, rather than invest in them.
In Smt.Prem Jain vs. ITO in ITA No. 2572/Del/2016 for Assessment Year 2011-12, this Tribunal with same combination...
