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Case Law Details

Case Name : Pine Tree Finserve Pvt. Ltd. vs. CIT (Bombay HC): IT Appeal No.- 2242 OF 2013
Related Assessment Year :
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CA Saurabh Chokhra

Brief of the case:

The Hon’ble Bombay HC in the above cited case held that when the assessee’s volume of purchasing and selling shares is quite high with higher frequency of buying and selling with holding 75 days or less then its prima facie indicate that it is engaged in trading of shares unless assessee provide a sound reasoning that why transactions should not be considered as trading activity.

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One Comment

  1. v.ganapathyraman says:

    When can I treat my grand son born in December 2000 as a major?Can I treat him as a major when he attains the age of 17+ on December 2017?

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