banner_ad

Profit on sale of shares

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 December 2010 The assessee is engaged in sale/purchase of Land/property. During the year it has made investment in shares, profit on shares is shown as Short term and long term as the case may be.But A.O. wants to asesses STCG on shares as business income in view of circular 4 /2007 dt 15.06.2007. What is the correct position.
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
21 December 2010 refer this link
https://itatonline.org/archives/index.php/cit-vs-gopal-purohit-bombay-high-court-shares-activity-treated-as-investment-in-earlier-years-cannot-be-treated-as-business-in-subsequent-years-if-facts-are-the-same

and other case laws mentioned in the link. It will depend upon the volume of transaction and frequency of trade to decide whether it is capital gains or business income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details