Case Law Details
Case Name : The Commissioner of Income Tax- II Vs. Moderate Leasing & Capital Services Ltd. (Delhi High Court)
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All High Courts Delhi High Court
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CIT Vs. Moderate Leasing & Capital Services Ltd. (Delhi High Court)– The Court, on the facts of the case held that where two portfolios are maintained by the assessee, i.e., investment portfolio and stock in trade, then, if the shares sold during the particular year pertains to investment portfolio and there happens to be loss, then such loss would be capital loss; and not the revenue loss.
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IN THE HIGH COURT OF DELHI AT NEW
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Whta will happen if it is a case of individual where there is no balance sheet is prepared and all.
Individual is just doing sale and purchase of shares and having income from other sources.