If the assessee is engaged in the sole activity of purchase and sale of securities then such an activity constitutes a business carried on by the assessee and any loss arising upon sale of such securities shall be treated as a business loss. (AY. 2005-06, 2007-08)
Dy. CIT v. Sahara Care Ltd. (2019) 74 ITR 117 (Delhi)(Trib.)
S. 28(i) : Business loss-Purchase and sale of securities – loss arising from sale of securities–Allowable as business loss.