Profit from share is assessable as business Income in case of short duration of holding of shares and lack of clarity in account books

Smt. Prem Jain Vs. ITO (ITAT Delhi)

It is an undisputed fact that the Assessing Officer has not disbelieved the purchase and sale of shares on the basis of the various documents filed before him since ultimately he has treated the profit from sale of shares as short term capital gain. His grievance is that the assessee

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