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If shares were held for more than 12 months then Income must be taxed as Capital Gain

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The Income Tax Appellate Tribunal, Delhi Bench has held that if the shares have been held for a period more than 12 months, then the income shall be taxable under the head ‘Capital Gain’ and not as ‘Business Income’.

ITAT follows CBDT Circular dated 29.9.2016. According to circular, if shares are held for more than 12 months which have been treated as the investment, the same has to be taxed under the head ‘capital gain’ and not as ‘business income’.Fullscreen Mode