assessment
order that many transactions of shares were found to be intraday sale and
purchase of shares which constituted business income. Therefore, the short
term ... term capital gain only Rs. 7,52,383/- was on account of intraday sale and
purchase of shares. However, the AO was not convinced
that turnover
in the cases of delivery based sales, future options and
intraday transactions are supposed to be different from normal
business turnover ... future options at
Rs.15,49,185/- and Intraday transactions at Rs.9,31,268/-. He
further referring to the guidance notes on Tax Audit
submission,
the appellant has clearly stated that he deals in share (including
intraday) and all the records relating to such transactions are
mentioned online
assessee has disclosed income from trading in
shares which pertains to intraday trading as well as future
and option. The above income is duly accounted
