Delhi High Court: Assets From Illegal Cricket Betting are Proceeds of Crime Attachable by ED  ||  Delhi HC: Extension to Issue SCN U/S 110 of The Customs Act Must be Granted Before Six Months Expire  ||  Delhi HC: Statements to Customs under Section 108 During Goods Seizure Aren't Admissible As Evidence  ||  Delhi HC: Oral Waiver of a Show-Cause Notice is Invalid And Continued Detention of Goods is Unlawful  ||  Supreme Court: Letter of Intent is a 'Promise in Embryo', Rights Arise Only After Conditions Met  ||  SC Auction Sale under Order XXI Rule 90 CPC Cannot Be Challenged on Pre-Proclamation Grounds  ||  NCLT Kochi: CoC May Invite Fresh Bids, Regulations Only Restrict Alteration of Existing Bids  ||  Chhattisgarh HC: Father Must Provide Maintenance and Marriage Expenses to Unmarried Adult Daughter  ||  Delhi HC Rules That ‘Hermès’ and the 3D Shape of its ‘Birkin’ Bag are Well-Known Trademarks in India  ||  Kerala HC: Arrest is Illegal if Accused isn’t Produced in 24 Hours and Rearrest From Prison is Barred    

Taxability of surplus on sale of shares and securities - Instructions in order to reduce litigation- (Ministry of Finance ) (29 Feb 2016)

MANU/DTCR/0007/2016

Direct Taxation

The Central Board of Direct Taxes issued instructions in situations when Assessing Officers hold whether surplus generated from sale of listed shares or other securities would be treated as Capital Gain or Business Income, taking into account various factors. The same would not be applicable in respect of transactions of shares or securities when the genuineness of the transaction itself was in question.

'Capital asset' including property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. Shares and other securities can be held either as capital assets or stock-in-trade/ trading assets or both. Determination of the character of a particular investment in shares or other securities, whether the same is in the nature of a capital asset or stock-in-trade, is a fact-specific determination and has resulted in a lot of uncertainty and litigation.

Tags : CAPITAL ASSET   SHARES   DETERMINATION   LITIGATION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved