https://www.taxtmi.com/article/detailed?id=6947 STT was introduced to simplify taxation of securities gains and must be read harmoniously with income tax concessions; when STT is paid, provisions conferring concessional treatment or alternate characterization of income (including sections providing for concessional short term and long term capital gains and section 88E) should be construed liberally, allowing taxpayers the statutory option to treat securities as capital assets or stock in trade. Tax authorities must not nullify the policy of simplified taxation by recharacterising or disallowing transactions taxed under STT on mere suspicion or conjecture. en-us Tue, 23 Aug 2016 11:33:26 +0530 Tue, 23 Aug 2016 11:33:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6947 STT was introduced to simplify taxation of securities gains and must be read harmoniously with income tax concessions; when STT is paid, provisions conferring concessional treatment or alternate characterization of income (including sections providing for concessional short term and long term capital gains and section 88E) should be construed liberally, allowing taxpayers the statutory option to treat securities as capital assets or stock in trade. Tax authorities must not nullify the policy of simplified taxation by recharacterising or disallowing transactions taxed under STT on mere suspicion or conjecture. Articles Income Tax Tue, 23 Aug 2016 11:33:26 +0530 https://www.taxtmi.com/article/detailed?id=6947