{"id":6320,"date":"2019-08-10T10:07:19","date_gmt":"2019-08-10T10:07:19","guid":{"rendered":"http:\/\/itatonline.org\/digest\/tash-investment-p-ltd-v-acit-2019-177-itd-210-ahd-trib-2\/"},"modified":"2019-10-06T13:01:46","modified_gmt":"2019-10-06T13:01:46","slug":"tash-investment-p-ltd-v-acit-2019-177-itd-210-ahd-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/tash-investment-p-ltd-v-acit-2019-177-itd-210-ahd-trib-2\/","title":{"rendered":"Tash Investment (P.) Ltd. v. ACIT (2019) 177 ITD 210\/ 181 DTR 109 (Ahd.)     (Trib.)"},"content":{"rendered":"<p>Tribunal held that the assessee had entrusted task of trading in shares to professionally managed Portfolio Management Services (PMS) to seize favourable market movements which gave an indication that assessee was engaged in business activity.\u00a0 Large number of scrips were traded and period of holding at times was as short as few days. Accordingly the profit is assessable as business income being adventure in nature of trade. (AY. 2011-12, 2012- 13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 28(i) : Business income-trading in shares-Professionally managed Portfolio Management Services (PMS)-large number of scrips were traded and period of holding at times was as short as few days- Assessable as business income  and not capital gains. [S. 2(13), 2(14), 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-6320","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1DW","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6320","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=6320"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6320\/revisions"}],"predecessor-version":[{"id":7685,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6320\/revisions\/7685"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}