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Ask your queries or reply to others' queries => Discussion => Topic started by: CA.BHUPENDRASHAH on July 02, 2010, 04:02:55 PM

Title: shares held for less than a month ***********************business income
Post by: CA.BHUPENDRASHAH on July 02, 2010, 04:02:55 PM
Sugamchand C. Shah [37 DTR 345 AHD]
IS THIS SUPPORTED BY ANY SECTION OR OTHER PRECEDENT ?
Title: Re: shares held for less than a month ***********************business income
Post by: pawansingla on July 03, 2010, 12:03:31 PM
I had read this judgement. But according to me the ratio of this judgement is not correct. The Hon'ble ITAT has given no reasoning why shares sold within one month are to be treated as business income where as for other 11 months they are to be taken as business income. It is settlement kind of judgement in which both department and assessee were Happy. A mid way rasta.
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