https://www.taxtmi.com/forum/issue?id=1003 Maximization of post-tax profit by legitimate commercial choices should not be equated with tax avoidance; STT functions as a revenue measure and may enable lower taxes or exemptions when paid, prompting taxpayers to reclassify securities as investment or stock-in-trade. Such reclassifications, if bona fide commercial decisions, should be accepted by revenue authorities. However, taxpayers must fix the nature of holdings at an appropriate stage because inconsistent or opportunistic changes can produce adverse consequences-such as issues with carrying forward or setting off losses and other tax adjustments. en-us Sat, 10 Jan 2009 17:08:00 +0530 Thu, 23 Jan 2025 15:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1003 Maximization of post-tax profit by legitimate commercial choices should not be equated with tax avoidance; STT functions as a revenue measure and may enable lower taxes or exemptions when paid, prompting taxpayers to reclassify securities as investment or stock-in-trade. Such reclassifications, if bona fide commercial decisions, should be accepted by revenue authorities. However, taxpayers must fix the nature of holdings at an appropriate stage because inconsistent or opportunistic changes can produce adverse consequences-such as issues with carrying forward or setting off losses and other tax adjustments. Discussion-Forum Income Tax Sat, 10 Jan 2009 17:08:00 +0530 https://www.taxtmi.com/forum/issue?id=1003