{"id":4343,"date":"2019-03-12T10:32:27","date_gmt":"2019-03-12T10:32:27","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pratish-manilal-modi-huf-v-acit-2019-174-itd-736-rajkot-trib\/"},"modified":"2019-03-12T10:32:27","modified_gmt":"2019-03-12T10:32:27","slug":"pratish-manilal-modi-huf-v-acit-2019-174-itd-736-rajkot-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pratish-manilal-modi-huf-v-acit-2019-174-itd-736-rajkot-trib\/","title":{"rendered":"Pratish Manilal Modi (HUF)  v.  ACIT  (2019) 174 ITD 736 (Rajkot)  (Trib.)"},"content":{"rendered":"<p>Tribunal held that the assessee had clearly demaracted shares as investment in its balance sheet. Mere frequency or magnitude of transaction in a systematic manner cannot be criteria to hold that assessee was engaged in a business activity of shares. Income is chargeable to tax as capital gains and not as business income. Referred CBDT circular No. 6\/2016, dt. 29-2-2016 and Circular No. 4\/2007, dt. 15-6-2007. (AY. 2007-08)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 45 : Capital gains-Business income\u2013Investment in shares- Demarcated shares as investment in its balance sheet-Profit arising on sale of shares is  chargeable to tax as capital gains and not as business income. [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":[1],"tags":[],"class_list":["post-4343","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-183","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4343","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=4343"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4343\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}