Commissioner of Income Tax, Rajahmundry vs. M/s. Kakinada Coop. Town Bank LTd., Kakinada

Bench: The Court Is: “Whether, The Shares Invested Through A Portfolio Management

Section 88E, as an alternative, was to fail since no evidence of the Securities Transaction Tax paid was furnished. It was reasoned that the purpose of a portfolio manager was to optimize returns of the investor. Since the motive of the transactions was the earning of profit and not a dividend, where the holding period was ranging from