CIT v. N.S.S. Investments Pvt. Ltd.

277 ITR 149High Court2005#4660 most cited

What is CIT v. N.S.S. Investments Pvt. Ltd. authority for?

The nature of gains arising from the transfer of shares and securities depends on the assessee's intention at the time of acquisition. If shares are held for earning dividends and not as stock-in-trade, profits on their sale are treated as capital gains, not business income.

25

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2010 to 2025.

Also referred to as

CIT v. N.S.S. Investments Pvt. Ltd. · 277 ITR 149 · capital gains vs business income · shares · securities · intention of assessee · dividend income · stock-in-trade

Judgments citing CIT v. N.S.S. Investments Pvt. Ltd.

Kamal Kishor Agarwal, Mumbai vs. Addl CIT RG 24(2), Mumbai

In the result, appeals for A

ITA 4463/MUM/2009[2006-07]Status: DisposedITAT Mumbai13 Jul 2016AY 2006-07
For Appellant: Shri S.C. Tiwari & Rutuja PawarFor Respondent: Shri Morya Pratap
Section 143(3)

…there was nothing in law which prohibited a trader in shares to invest in shares. The intention of the assessee was relevant to determine whether he was carrying on the business in shares or investment. vii. In the case of CIT v/s N.S.S. Investments Pvt. Ltd. 277 ITR 149 (Madras) The Hon‟ble Court held that a Company can hold shares as stock in trade for the purpose of doing business of buying and selling of such shares, while at the same time, it can also hold other shares as its capital, that where the findings Mr. Kamal Kishore Agarwal was that the shares in question were never treated by the assessee as stoc…

DCIT, Circle - 10, Kolkata vs. M/S. H.K. Financiers Pvt. Ltd., Kolkata

In the result, appeal of revenue is dismissed and the CO of the assessee is dismissed as not pressed

ITA 1526/KOL/2010[2006-07]Status: DisposedITAT Kolkata03 Feb 2016AY 2006-07

Bench: Shri Mahavir Singh, Jm & Shri Waseem Ahmed, Am]

For Appellant: Shri R. K. Patodi, FCAFor Respondent: Shri N o n e
Section 143(3)

…V. Rewashankar A Kothari (2006) 201 CTR 510 (Guj) CIT V. Ramamrithans (2008) 217 CTR 206 (Mad) CIT V. Associated Industrial Development Co. Ltd. (SC) 82 ITR 586 Janak S. Rangwalla V. ACIT (2007) 11 SOT 627 (Mum. Trib.) CIT V. N.S.S. Investments P. Ltd. (2005) 277 ITR 149 (Mad) Bombay Gymkhana Ltd. V. ITO (220) 115 TTJ 639 (Mum. Trib.) Gopal Purohit V. JCIT, 25(3), Mumbai (2009) 29 SOT 117 (Mum.Trib.) Sarnath Infrastructure P. Ltd. V. ACIT (2009) 313 ITR (AT) 13 (Lucknow) DCIT V. Reena Sarogi ITA No. 1202/Cal/98 & 332/Cal/2001) DCIT V. Kavita Parasramka (ITA No. 1033/KoI/2008, dt. 20.3.09) The ratio laid down by…

CIT vs. Jubilant Securities Pvt Ltd

Appeals are dismissed in limine

ITA/588/2011HC Delhi31 Mar 2011

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

…ITA No. 588/2011 Page 1 of 9 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA No. 588/2011 % Date of Decision: 31st March, 2011 THE COMMISSIONER OF INCOME TAX DELHI-II, CENTRAL REVENUE BUILDING, NEW DELHI ... APPELLANT Through: Mr. Sanjeev Sabharwal, Advocate. Versus JUBILANT SECURITIES PVT. LTD. 15TH FLOOR, DEVIKA TOWERS, NEHRU PLACE, NEW DELHI … DEFENDANT Through: None. CORAM: HON'BLE MR. JUSTICE A.K.SIKRI HON’BLE MR. JUSTICE…

The Commissioner of Income Tax Delhi-II, Central Revenue Building, New Delhi vs. Jubilant Securities Pvt. Ltd. 15Th Floor, Devika Towers, Nehru Place, New Delhi

Appeals are dismissed in limine

ITA-588/2011HC Delhi31 Mar 2011

…ITA No. 588/2011 Page 1 of 9 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA No. 588/2011 % Date of Decision: 31st March, 2011 THE COMMISSIONER OF INCOME TAX DELHI-II, CENTRAL REVENUE BUILDING, NEW DELHI ... APPELLANT Through: Mr. Sanjeev Sabharwal, Advocate. Versus JUBILANT SECURITIES PVT. LTD. 15TH FLOOR, DEVIKA TOWERS, NEHRU PLACE, NEW DELHI … DEFENDANT Through: None. CORAM: HON'BLE MR. JUSTICE A.K.SIKRI HON’BLE MR. JUSTICE…

Commissioner of Income Tax vs. Pnb Finance & Industries Ltd

Accordingly, the same stands dismissed without any order as to

ITA/306/2010HC Delhi18 Oct 2010
Section 143(1)Section 143(2)Section 234BSection 260ASection 271(1)(c)

…ssessee for deduction are not shown to have been expended for the purpose of realising the interest, and are therefore not allowable as deductible expenditure.” [Emphasis added] 11. In Commissioner of Income Tax v. N.S.S. Investments (P) Ltd., [2005] 277 ITR 149 (Madras), the question that was referred to was whether on the facts and in the circumstances of the case, the appellate tribunal is right in law in holding that the profit on sale of shares is to be treated as capital gains instead of business income. The Bench referred to paragraph 15 of the order of the tribunal and expressed the view as…