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Case Law Details

Case Name : CIT Vs Rewashanker A. Kothari (Delhi High Court)
Related Assessment Year :
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Gujarat High Court in CIT vs. Rewashanker A. Kothari, (2006) 283 ITR 338 (Guj.), after examining earlier judgments on the question has laid down several parameters / tests which have to be applied to find out when income from transactions in shares / securities should be treated as income from business or the gain which has to be taxed under the head “capital gains”. The parameters/tests are as under:-

“(a) The first test is whether the initial acquisition of the subject-matter of transaction was with the intent

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