M/S. INDI STOCK PRIVATE LIMITED vs. COMMISSIONER OF INCOME TAX, KOLKATA- II

In the result, the appeal filed by the assessee is allowed and

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE SUPRATIM BHATTACHARYA

set aside. The operative portion of the decision is as follows:- The CBDT by Circular No. 4 of 2007 dated 15.06.2007 laid down the tests for distinguishing shares held as stock-in- trade and shares held as investment. The CBDT took note of the decision of the Hon’ble Supreme Court in Commissioner of Income Tax, (Central), Calcutta Versus Associated

PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA vs. RUSSEL CREDIT LIMITED

Bench: HON'BLE JUSTICE RAJARSHI BHARADWAJ,HON'BLE JUSTICE UDAY KUMAR