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Case Law Details

Case Name : Pr. CIT­ Vs Vernan Pvt. Trust (Bombay High Court)
Related Assessment Year : 2010-11
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Pr. CIT Vs Vernan Pvt. Trust (Bombay High Court)

Whether the Assessee is engaged in the business of buying and selling of shares or is a mere investor, would depend on the range of factors. In the present case, the Tribunal has noted the relevant facts and analyzed such facts in proper perspective. To reiterate, the shares in question were not purchased by the Trust at all. They were settled by the settler of the Trust. The Settler himself had not purchased the majority of these shares but had received by way of Employee Stock Option Plan. The shares so

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