issued by the
Commodity Exchange, client code modification is permitted intraday i.e. on
the same day. There is no penalty if the client code
company was to hold the shares as
investments, and there being no intraday trading of shares, the income
from sale of the same, wherein both ... sale
transactions of shares, viz. period of holding of the scrips, no intraday transactions,
delivery based purchase/sale transactions etc., therein in itself substantially
evidenced
issued by
the Commodity Exchange, client code modification is permitted
intraday i.e. on the same day. There is no penalty if the client code
return. The
details of the same stand as under:
Gain from intraday Transaction ( Transaction Rs.7,14,784/-
without delivery)
STCG (Gain from delivery based ... profit and loss account wherein all the income
with respect to intraday transactions, short-term capital gains and F and O
transactions were duly reflected
that all the transactions were
delivery based only and there was no intraday, future & options
transaction made by your appellant. During the year, your
page Nos.6
to 9 of the paper book (after
including intraday and derivative
transactions)
Turnover of sale as worked out 662.09
above
Total
that the appellant had total purchases in
the relevant financial year for intraday and delivery transactions of Rs.
117,20,05,213/- and the corresponding ... shown
by the broker. Additionally, the AO calculated the business income from
intraday transactions in the shares at Rs. 63,82,744/-. It is seen
share had gone up to Rs. 60 on 9-5-1996. Intraday
volatility was also reported high on certain days
representing the gross amount of shares purchased and sale in
intraday during the year 2009-10. This information was very much available before
the learned
shares declared and mutual
fund as capital gain and profit on intraday sale of shares declared as
speculative transaction. The ld. AR asserted that