Gain on Sale of Mutual Fund is Capital Gain: ITAT Delhi

ACIT Vs Sunil Bakht (ITAT Delhi) The holding period of the assessee is minimum of 72 days and maximum of 186 days in the four schemes. The assessee contended before the ld CIT(A) that these are the only four transactions during the year. Magnitude of the investment coupled with the volume is also not much. The ld CIT(A) relying on the decision of the BS Raju Vs. Addll. CIT held that same is capital gain. He further held that in case of mutual fund the assessee does not have any control on the manner in which further investment have been made. Further, in case of the assessee, in earlier years ...