Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
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Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently investment in shares - The High Court remitted the matter back to the Tribunal to consider the nature of the transaction concerning the sale and purchase of shares and the treatment of legal expenses afresh. - The Tribunal considered various tests laid down by the High Court and other judgments to determine the nature of the transaction. It found that the appellant had purchased shares with the intention of being an investor and held them as investments, thus treating the gains as capital gains.
Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently investment in shares - The High Court remitted the matter back to the Tribunal to consider the nature of the transaction concerning the sale and purchase of shares and the treatment of legal expenses afresh. - The Tribunal considered various tests laid down by the High Court and other judgments to determine the nature of the transaction. It found that the appellant had purchased shares with the intention of being an investor and held them as investments, thus treating the gains as capital gains.
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