Home › Tax Laws › CIT v. Hiren Dand v. CIT (2018) 259 Taxman 82 / 98 taxmann.com 427 (Bom.)(HC) Editorial : SLP of revenue is dismissed; CIT v. Hiren Dand (2018) 259 Taxman 81 (SC)

CIT v. Hiren Dand v. CIT (2018) 259 Taxman 82 / 98 taxmann.com 427 (Bom.)(HC) Editorial : SLP of revenue is dismissed; CIT v. Hiren Dand (2018) 259 Taxman 81 (SC)

S. 45 : Capital gains-Business income-Sale of shares-Only 10 scripts-Assessable as capital gains. [S. 28(i)]

Dismissing the appeal of the revenue the Court held that; Tribunal  gave finding that only ten scrips were traded and it was not a case of frequent buying and selling to make quick money. Accordingly the income is assessable as capital gains  and not as business income.  (AY. 2008 -09)