https://www.taxtmi.com/circulars?id=9677 The Board declined to prescribe universal tests for identifying dealers in shares and directed assessing officers to determine, on the facts, whether a taxpayer's shares are trading assets or investments. Assessing officers must examine all relevant aspects and specially scrutinise the balance sheet and profit and loss account of assessees claiming dealer status in shares, using those financial statements as primary evidence in the classification. en-us Tue, 29 Apr 1986 00:00:00 +0530 Wed, 08 Jun 2011 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9677 The Board declined to prescribe universal tests for identifying dealers in shares and directed assessing officers to determine, on the facts, whether a taxpayer's shares are trading assets or investments. Assessing officers must examine all relevant aspects and specially scrutinise the balance sheet and profit and loss account of assessees claiming dealer status in shares, using those financial statements as primary evidence in the classification. Circulars Income Tax Tue, 29 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9677