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ITAT Delhi: Loss Arising from Forfeiture of Advance Paid on Convertible Warrants is Business Loss - (06 Jan 2020)

DIRECT TAXATION

Income Tax Appellate Tribunal, Delhi has held the loss arising from forfeiture of the advance paid on convertible warrants is a business loss. The Tribunal further observed that where the assessee, irrespective of the period of holding the listed shares and securities, opts to treat them as stock-in-trade, the income arising from transfer of such shares/securities would be treated as its business income.

Tags : ITAT DELHI   LOSS  

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