{"id":222,"date":"2018-04-29T11:29:54","date_gmt":"2018-04-29T11:29:54","guid":{"rendered":"http:\/\/itatonline.org\/digest\/prem-jain-smt-v-ito-delhitrib-www-itatonline-org\/"},"modified":"2018-08-24T08:04:17","modified_gmt":"2018-08-24T08:04:17","slug":"prem-jain-smt-v-ito-delhitrib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/prem-jain-smt-v-ito-delhitrib-www-itatonline-org\/","title":{"rendered":"Prem Jain (Smt) v. ITO ( 2018) 63 ITR 52 (SN)(Delhi)(Trib) , www.itatonline.org"},"content":{"rendered":"<p>Allowing the appeal of the assesse the Tribunal that ; If the purchase of shares has been made solely and exclusively with the intention to resell at a profit and the purchaser has no intention of holding them, the transaction is an &#8220;adventure in the nature of trade&#8221; and the gains are assessable as &#8220;business profits&#8221; and not as &#8220;short-term capital gains&#8221; accordingly the deduction u\/s 35 was held to be allowable. Tribunal held that the AO was not justified in assessing the sale consideration as short term capital gains ( ITA No. 2572\/Del\/2016, dt. 22.03.2018.)(AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 28(i): Business income \u2013 Penny stock \u2013 Donation- Assessable as business income and not as short-term capital gains, deduction of donation was held to be allowable .  [ S. 35,45 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-222","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3A","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=222"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/222\/revisions"}],"predecessor-version":[{"id":2073,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/222\/revisions\/2073"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}