Distinction between shares held as stock-in-trade and shares held as investment

Last updated: 16 June 2007

CIRCULAR NO. 4/2007, DATED 15-6-2007 The Income Tax Act, 1961 makes a distinction between a capital asset and a trading asset. 2. Capital asset is defined in Section 2(14) of the Act. Long-term capital assets and gains are dealt with under Section 2(29A) and Section 2(29B). Short-term cap
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