Business income or capital gains–Gain arising on sale of shares– Activity of purchase and sale of shares not being main occupation.
If “soil” is placed in trays or pots and when operations are carried out on this “soil”, which is detached from land, for production of mushrooms, could such activity be termed as agricultural activity?
Capital gains–Deduction under section 54F–Amount not invested in Capital Gains Account Scheme within period under section 139(1)
Income-Subsidy–VAT reimbursement–Whether capital receipt or revenue receipt– Applicability of section 2(24)(xviii)
Brand promotion by ‘Shilpa Shetty’ not an international transaction in absence of pre-requisite agreement .
Salary and interest to partners is allowable under section 40(b) even in respect of addition of undisclosed profit !