Wednesday 4 November 2015

Capital gains couldn't be treated as business profits due to insertion sec. 111A providing for reduc

IT : Where assessee's claim of short term capital gain arising from sale of shares had been accepted in earlier years, mere fact that during relevant period certain benefits were given to investor in securities by insertion of provisions of section 111A, could not be a ground to treat assessee a trader in shares and thereby bring amount in question to tax as business income

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