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High frequency & volume in share deals with short holding period is trading activity

CA Saurabh Chokhra 15 Aug 2016 4,658 Views 1 comment Print Income Tax | Judiciary

Case Law Details

Case Name : Pine Tree Finserve Pvt. Ltd. vs. CIT (Bombay HC): IT Appeal No.- 2242 OF 2013

Related Assessment Year :

Courts : All High Courts Bombay High Court

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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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Author Bio

Name: CA Saurabh Chokhra

Qualification: CA in Job / Business

Company: N/A

Location: Hyderabad, Telangana, IN

Member Since: 19 Aug 2018 | Total Posts: 243

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One Comment

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?

Reply

August 16, 2016 at 4:26 pm