Dear Prashant , the auditor is right in your client's case. Because if a person is continuously engaged in buying and selling of any capital asset than the capital asset becomes stock in trade for the purpose of taxation and the income is chargeable under the head business and profession not under capital gains.
YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
View Details
Shaswat initial support private limited
Ahmedabad
CS
View Details
R P S K & Associates
Nashik
CA Inter
View Details
CAclubindia
