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Distinction between shares held as stock-in-trade and shares held as investment - tests for such a distinction



Distinction between shares held as stock-in-trade and shares held as investment - tests for such a distinctionCIRCULAR NO. 4/2007, DATED 15-6-2007 The Income Tax Act, 1961 makes a distinction between a “capital asset” and a “trading asset”.2. Capital asset is defined in Section 2(14) of the Act. Lon
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