DCIT v. Hero Investment (P.) Ltd. (2024) 204 ITD 29 (Delhi) (Trib.)

S. 45 : Capital gains-Business income-Shares shown as investment in balance sheet and not as stock in trade-Period of holdings ranging from 3301 to 1352 days-Income from sale of securities is assessable as capital gains and not as business income.[S. 28(i)]

Held that the  assessee had shown shares in balance sheet as investments and not as stock-in-trade and moreover, shares sold were held by assessee for a long period ranging from 3301 days to 1352 days, income from sale of shares/securities/PMS/mutual funds, etc. to be treated as income under head capital gains and not business income.  (AY. 2012-13)

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