https://www.taxtmi.com/highlights?id=65025 Correct head of income - Gain on sale of shares - nature of purchase of shares either as “investment” or “stock-in-trade” - AO has not given any clear cut finding that the shares held as “stock-in-trade” were sold by the assessee and claiming capital gain. When this basic foundation is not being doubted by the AO - The action of the A.O. treating the sale of shares held as “investment” by the assessee and offered the same for short term capital gain cannot be treated as business income. - AT en-us Mon, 08 Aug 2022 09:10:43 +0530 Mon, 08 Aug 2022 09:10:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65025 Correct head of income - Gain on sale of shares - nature of purchase of shares either as “investment” or “stock-in-trade” - AO has not given any clear cut finding that the shares held as “stock-in-trade” were sold by the assessee and claiming capital gain. When this basic foundation is not being doubted by the AO - The action of the A.O. treating the sale of shares held as “investment” by the assessee and offered the same for short term capital gain cannot be treated as business income. - AT Highlights Income Tax Mon, 08 Aug 2022 09:10:43 +0530 https://www.taxtmi.com/highlights?id=65025