Friday 18 December 2015

Profit on share dealings held as cap gains in absence of allegations of shifting of scrips from inve

IT: Where assessee maintained two separate accounts in respect of its dealing in mutual funds and shares, i.e., one in respect of its trading and other in respect of its investment, and there were no allegations of shifting of scrips from trading to investment or vice versa, assessee's claim of capital gain on sale of shares held as investment was to be allowed

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