Income from shares is capital gain if shares been held as investment with intention of Investment

ACIT Vs Shri Finance (ITAT Delhi) It is undisputed that 7 scrips under 10 separate transactions were sold which had holding periods ranging between 370 days to 1738 days. Thus, all the scrips were held for more than 1 year and up to approximately 5 years. It is also undisputed that the shares sold by the assessee and treated as long term capital gains were duly disclosed in the assessee’s balance sheet under the head ‘investment’. Apart from this, the assessee also undertook 20 transactions of purchase and 13 transactions of sale of shares which have been duly disclosed under Short Term ...