Purchase amp; sale of shares in instalment couldn’t be treated as repetitive deals; income is taxable as capital gains

INCOME TAX : Where assessee sold shares which were clearly classified as investment in its balance sheet and there was no instances of repetative purchase amp; sale of shares by assessee and, moreover, assessee had used its own funds to purchase shares, profit arising on sale of shares was chargeable to tax as short-term capital gainINCOME TAX : Where assessee sold shares which were clearly classified as investment in its balance sheet and there was no instances of repetative purchase amp; sale of shares by assessee and, moreover, assessee had used its own funds to purchase shares, profit arising on sale of shares was chargeable to tax as short-term capital gainwww.taxmann.com Latest Case LawsRead More

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