Income from frequent Sale/Purchase of shares within small duration is business Gain

DCIT Vs M/s Divya Shakti Trading Services Ltd. (ITAT Delhi)

In this case assessee has purchased and sold scrips multiple times, on various dates alleged to have been held as investment within small duration. The magnitude of purchases on each date has been very large in respect of all these shares. Thus in our considered opinion frequency and volume of purchase and sale of shares shows, intention of assessee was to generate income through trade, rather than invest in them.

In  S

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