Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
Mere use of borrowed funds or the volume of share transactions did not change the character of shareholdings into stock-in-trade where the assessee consistently treated listed shares as investments and held them for more than 12 months. The Tribunal applied the settled principle that intention, consistency in treatment, and the surrounding facts govern classification of share transaction income. As the Assessing Officer relied only on the alleged flow of borrowed funds and did not make an objective analysis of frequency, holding period, intention at purchase, or book treatment, the gains were correctly assessed as capital gains. The Tribunal upheld the CIT(A) and treated both long-term and short-term gains as capital gains, not business income.
Mere use of borrowed funds or the volume of share transactions did not change the character of shareholdings into stock-in-trade where the assessee consistently treated listed shares as investments and held them for more than 12 months. The Tribunal applied the settled principle that intention, consistency in treatment, and the surrounding facts govern classification of share transaction income. As the Assessing Officer relied only on the alleged flow of borrowed funds and did not make an objective analysis of frequency, holding period, intention at purchase, or book treatment, the gains were correctly assessed as capital gains. The Tribunal upheld the CIT(A) and treated both long-term and short-term gains as capital gains, not business income.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
