Income arising from sale of shares recorded in investment portfolio is taxable as Capital Gains

INCOME TAX : Where assessee purchased shares and recorded same in investment portfolio and frequency of instances of purchase and sale of shares were quite few justifying intention of assessee to purchase shares as capital asset, income arising from sale of such shares was to taxed as ‘short-term capital gain’ and not as business incomeINCOME TAX : Where assessee purchased shares and recorded same in investment portfolio and frequency of instances of purchase and sale of shares were quite few justifying intention of assessee to purchase shares as capital asset, income arising from sale of such shares was to taxed as ‘short-term capital gain’ and not as business incomewww.taxmann.com Latest Case LawsRead More

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