https://www.taxtmi.com/caselaws?id=203757 Delivery-based share transactions funded from surplus own funds and shown as investments in the balance sheet are ordinarily characterised as capital gains rather than business income, especially where the taxpayer is an NRI subject to trading restrictions and dividend income supports investment character. The frequency and volume of trades, by themselves, do not convert the activity into trading when market conditions and a stated selling strategy explain the pattern. Under the India-Thailand tax treaty, a permanent establishment is not created through a father or broker absent habitual authority to conclude contracts, a fixed place at the taxpayer's disposal, or a dependent agent arrangement meeting treaty conditions. en-us Tue, 07 Sep 2010 00:00:00 +0530 Mon, 27 Aug 2012 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203757 Delivery-based share transactions funded from surplus own funds and shown as investments in the balance sheet are ordinarily characterised as capital gains rather than business income, especially where the taxpayer is an NRI subject to trading restrictions and dividend income supports investment character. The frequency and volume of trades, by themselves, do not convert the activity into trading when market conditions and a stated selling strategy explain the pattern. Under the India-Thailand tax treaty, a permanent establishment is not created through a father or broker absent habitual authority to conclude contracts, a fixed place at the taxpayer's disposal, or a dependent agent arrangement meeting treaty conditions. Case-Laws Income Tax Tue, 07 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203757