This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Strategic Investments of Bank Taxable as Capital Gains, Not Business Income: ITAT Ahmedabad
Case Law Details
- Case Name
- Axis Bank Limited Vs ACIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Ahmedabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Axis Bank Limited Vs ACIT (ITAT Ahmedabad)
Gains arising from sale of strategic investments and unlisted shares by a banking company were assessable as capital gains not as business income: ITAT Ahmedabad
Conclusion: Gains arising from sale of strategic investments, promoter holdings, unlisted shares and similar long-term capital assets held by a banking company were assessable under the head “Capital Gains” and not as business income, where the investments were not held as stock-in-trade or for trading purposes.
Held: Assessee sold shares of Max New York Life Insu...
Author Info
