https://www.taxtmi.com/circulars?id=9849 Determination whether shares are stock-in-trade or capital assets turns on the totality of factors: the purchaser's intention (notably intention to resell at a profit), repetition and scale of transactions, and whether sales are so connected with carrying on the taxpayer's business that resulting surpluses constitute business income. Contexts where dealing in securities is integral to the ordinary business, or where regulatory practices require holding liquid securities, weigh in favour of classification as business income. Accounting labels are relevant but not conclusive. en-us Thu, 31 Aug 1989 00:00:00 +0530 Thu, 09 Jun 2011 13:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9849 Determination whether shares are stock-in-trade or capital assets turns on the totality of factors: the purchaser's intention (notably intention to resell at a profit), repetition and scale of transactions, and whether sales are so connected with carrying on the taxpayer's business that resulting surpluses constitute business income. Contexts where dealing in securities is integral to the ordinary business, or where regulatory practices require holding liquid securities, weigh in favour of classification as business income. Accounting labels are relevant but not conclusive. Circulars Income Tax Thu, 31 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9849