Capital gains or business income - The taxation …

Capital gains or business income The taxation conundrum [2013] 35 249 (Article) Capital gains or business income - The taxation conundrumSANJEEVA NARAYANCAI ntroduction1. The issue whether the gains arising from sale/dealing of shares are taxable under the head" Capital gains " or under " business income " has been increasingly engaging the attention ofthe assessees, the tax department and, consequently, of the judiciary. The litigation on theissue has tended to only multiply. The question has attained greater relevance in the caseswhere an assessees (immaterial of whether it is an individual, firm, company or any otherentity) have engaged in a series of frequent transactions and the turnover is high.

2.2 Treatment in view of guidelines/circulars issued by the CBDT 2.2.1 CBDT's Instruction No. 1827, dated 31-8-1989 - The Central Board of Direct Taxes

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  Business, Income, Capital, Direct, Board, Gain, Central, Texas, Taxation, Central board of direct taxes, Capital gains or business income the taxation

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