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Despite high volume & short holding period, shares gain is STCG – Bombay HC
Case Law Details
- Case Name
- The Commissioner of Income Tax Vs. Naishadh V. Vachharajani (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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The Commissioner of Income Tax Vs. Naishadh V. Vachharajani (Bombay High Court)
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL (L) NO. 1042 of 2011
The Commissioner of Income Tax Vs Naishadh V. Vachharajani
DATE : 22nd September 2011
P.C.:
1. Whether the Income Tax Appellate Tribunal was justified in holding that the income arising on transfer of shares were liable to be assessed as short term capital gains / long term capital gains instead of assessing the same as business income, is the question raised in this appeal.
2....
