Taxpayer's Intent and Income Classification: Short-Term Gains or Business Income for Same-Day Transactions?

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Short term capital gain or business income - Purchases in the same scrip on the same day has been divided into speculation and investment - the only intention of the assessee in the impugned case is just to reduce the tax liability by treating a part of the profit as short term capital gain - AT....