{"id":32933,"date":"2023-02-25T11:42:53","date_gmt":"2023-02-25T06:12:53","guid":{"rendered":"https:\/\/itatonline.org\/digest\/indi-stock-pvt-ltd-v-cit-2023-450-itr-327-cal-hc\/"},"modified":"2023-02-25T11:42:53","modified_gmt":"2023-02-25T06:12:53","slug":"indi-stock-pvt-ltd-v-cit-2023-450-itr-327-cal-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/indi-stock-pvt-ltd-v-cit-2023-450-itr-327-cal-hc\/","title":{"rendered":"Indi Stock Pvt. Ltd. v. CIT (2023) 450 ITR 327 (Cal.)(HC)"},"content":{"rendered":"<p>The AO treated the short term capital gains on sale of shares as business income. CIT(A) accepted the contention of the assessee. On appeal the Tribunal reversed the order passed by the Commissioner (Appeals). On appeal High Court held that Tribunal was not right in reversing the order passed by the Commissioner (Appeals) and holding that the gain made by the assessee on sale and purchase of shares was business profit and not short-term capital gains. (AY-2005-06)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 45 : Capital gains-Business income-Trading or investment-Two separate portfolios-Order of  tribunal reversing order of  Commissioner (Appeals) and holding gains as business income was set aside. [S. 28(i)] <\/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":[21],"tags":[],"class_list":["post-32933","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8zb","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32933","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=32933"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32933\/revisions"}],"predecessor-version":[{"id":32934,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32933\/revisions\/32934"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=32933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=32933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=32933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}