• Welcome to itatonline.org Forum.
 

shares held for less than a month ***********************business income

Started by CA.BHUPENDRASHAH, July 02, 2010, 04:02:55 PM

Previous topic - Next topic

CA.BHUPENDRASHAH

Sugamchand C. Shah [37 DTR 345 AHD]
IS THIS SUPPORTED BY ANY SECTION OR OTHER PRECEDENT ?

pawansingla

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.