automatic statement is generated giving net position on
account of total intraday trading by the broker and the net balance is
either paid ... vide details attached).
The assessee also made net payment (after adjustment of intraday
trade for all the clients) to Stock exchange by balancing intraday trade
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
market and
F & 0 market.
8. The assessee is also into intraday t rading activit y, on
which it has made a profit
claimed the set off of the brought forward loss arising from intraday trading of
shares for Rs.3,29,661/- against the income of speculative
declining and the appellant wanted to stop its loss. There were no
intraday transactions. The appellant had claimed short term capital gains on the
investments
booked sale first then purchased the relevant shares. Since, it is an
intraday trading these shares were not delivered through de-mats
account
business. Relevant clinching fact that of the assessee having set off its intraday
6
I.T.A. No. 302/Kol/2017
Assessment Year
done trading in shares (delivery based) as well as speculation
transactions (intraday trading). An analysis of the data received from
the broker revealed that while
