Case Law Details
Case Name : Shri Ramesh Babu Rao Vs. ACIT (ITAT Mumbai)
Related Assessment Year : 2005-06
Courts :
All ITAT ITAT Mumbai
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Considering the fact that assessee is not a broker or sub-broker and also not having any office establishment and also on the fact that all the shares as available on 0 1.04.2005 were sold mostly by the end of May and few shares at the end of September, assessee has intended to be an investor subsequent to the change in the scheme of tax by the Finance Act 2005. On these facts, we see no reason to interfere with the findings of the CIT(A) in holding that the assessee’s transactions are to be treated as capital gains, short term or long term depending o
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