Tuesday, August 30, 2011

Where assessee invested its own funds in shares which were held by it for a

 
IT : Where assessee invested its own funds in shares which were held by it for an average period of 300 days and, moreover, those shares were shown as investment in books of account, it was to be held that transactions in shares were made by assessee as an investor and, thus, profit earned from sale of shares was to be treated as capital gain

[2011] 12 taxmann.com 321 (Mum. - ITAT)

IN THE ITAT MUMBAI BENCH 'E'

Deputy Commissioner of Income-tax, 8(3), Mumbai

v.

Securities Capital Investment India Ltd.*

P.M. JAGTAP, ACCOUNTANT MEMBER
AND VIJAY PAL RAO, JUDICIAL MEMBER
IT APPEAL NO. 211 (MUM.) OF 2010
[ASSESSMENT YEAR 2006-07]

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