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Shares/securities/PMS/Mutual fund held as investment taxable under capital gains
Case Law Details
- Case Name
- DCIT Vs Hero Investment Pvt. Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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DCIT Vs Hero Investment Pvt. Ltd. (ITAT Delhi)
ITAT Delhi held that income from sale of shares/securities/PMS/Mutual Funds, etc. which were held as investment and not as stock-in-trade is taxable under the head capital gains and not under the head business income.
Facts- Revenue has preferred the present appeal mainly contesting that CIT(A) has erred in directing the AO to treat the income of the assessee from sale of shares/securities/ PMS/Mutual Funds etc and income under the head “Capital Gains” instead of “Income from Business”.
Conclusion- Held that the Ld.CIT(A) a...
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