lots of crude oil derivatives vide
trade on intraday basis [intraday basis as on 20.02.2020 is what we are
now concerned with]; that 200 lots ... management/assessment policy/system. The said
document contains the following note:
“*Note:
Intraday square off timings can change based
on the discretion of our risk
March 2013 we have deal with the same securities and incurred an
intraday profit of Rs. 1839.84/- and incurred a Short Term Loss ... assessee and detailed
transactions report of M/s. Pradip Overseas Ltd. wherein intraday
profit of Rs. 1839 earned by the assessee and also incurred
actually the sum of total sold value of total intraday trading done by the assessed
with M/s Coinsecure. It is submitted that the actual ... amount invested in
crypto was traded and churned in the market including intraday trading, wherein
crypto was sold and sold on the same
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
2023
Manisha Gahlot v. ACIT
argument if on assumption the income from intraday transaction is taken
under the head business and profession even then ... liable to maintain books of account because turnover in the case of intraday
transaction is total profit in intraday trading and total loss an intraday
totaling 957300.05. It is very same set
of shares were sold as intraday sale at Rs. 180.51 for a total
consideration of Rs.1007092 ... Thus there is a profit of 49792 by
way of intraday trade of this share namely Scan Steel Ltd. The
assessee being a trader
Complainant purchased shares at 10.32
A.M. for the purpose of intraday business and he is watching the
price of shares as there is time ... position in
DLF Shares was squared off on 02.02.2018 since the intraday
MTM loss had exceeded 70% of the total margin.
With reference
utilized by OP3. It is their specific contention that all the intraday transactions were carried out by them on the instructions given by complainant himself ... guidelines of SEBI and Stock Exchange in carrying out the said intraday transactions and they have not violated any of the guidelines as alleged
business', the appellant had
disallowed / added back losses suffers in intraday transactions as well as
in futures and options on the understanding that such
profit out of fund deployed in the
securities trading business and therefore, intraday transactions, derivatives
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