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Case Law Details

Case Name : lndo Stosec (P.) Ltd. Vs lncome-Tax Officer (ITAT Mumbai)
Related Assessment Year : 2006-07
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The assessee is engaged in the business of manufacture of Gas mantle and stove. Besides the assessee was also engaged in trading of shares and it has show the shares on hand as its “stock in trade” in the earlier years. As on the beginning of the current year, i.e., on 1.4.2005, the assessee transferred the Shares from “Stock in trade” to “Investment” account. Immediately thereafter, the assessee sold shares, the details of which are furnished at page 83 of the paper book.

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