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Income from Sale & Purchase of Shares cannot be treated as ‘Capital Gain’ when Assessee is engaged in Share Trading: ITAT Ahmedabad

Taxscan Team

In ITO v. Manusi Securities Pvt. Ltd, the division bench of the ITAT Ahmedabad held that the income from sale & purchase of shares of a Company...

Income Tax Dept asks Companies to Furnish Reports on issuing Bonds, Debentures, Shares etc by 31st...

Amount Received from Wholly Owned Subsidiary for Transfer of It’s Shares to a Group of Shareholders...

Gains from Purchase and Sale of Shares and Mutual Funds are Taxable under the head ‘Capital Gains’:...

Once the Shares of Beneficiaries are found to be determinable, the Trustees cannot be Assessed for...

Advance Paid for Subscription of Shares is not ‘Deemed Dividend’: ITAT Hyderabad [Read Order]

The ITAT, Hyderabad bench, in DCIT v. M/s. My Home Constructions Private Ltd, held that the provisions of deemed dividend does not attract in a case where the payment received as advance expenditure...

Income from Sale of Shares and Mutual Funds are ‘Capital Gain’ though the Assessee involved in Frequent Transactions: ITAT Kolkata [Read Order]

In ITO v. Dilip B.Desai HUF, the Kolkata bench of the ITAT held that the income earned by the assessee from Sale of Shares and Mutual Funds are short term capital gains and not business income. The...

Investing in Shares by availing Service of Portfolio Manager is ‘Capital Gain’: ITAT dismisses appeal against Former Cricketer Sachin Tendulkar [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) yesterday dismissed the Department’s appeal against the former Cricketer Sachin Tendulkar and held that income from sale-purchase of shares...

CBDT notifies Rules for Taxation of Companies while issuing of shares following Buy Back, Demerger, Amalgamation

With an aim to minimize the number of litigation over taxation, the Central Board of Direct Taxes (CBDT) has recently notified the rules for computation of distributed income arising out of issue of...

Expenditure on Issue of Shares to Indian Public is not Eligible for Deduction: Bombay HC [Read Judgment]

The division bench of the Bombay High Court, in a recent decision, held that the amount spent on issue of shares to Indian public is “capital expenditure” and therefore, deduction in respect of the...