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The Economic Times
The Economic Times
Neelanjit Das

Income Tax department labels her stock market trader, denies investor status; she fights and wins Rs 54 crore capital loss claim at ITAT

ITAT Dolly Khanna Income Tax Suresh Surana ITAT Chennai CBDT Tribunal AO Revenue

Recently the Income Tax Appellate Tribunal (ITAT) Chennai bench ruled in favour of Smt Dolly Khanna, acknowledging her as an investor in shares rather than a trader. On this ground, ITAT Chennai determined that the short term capital loss (STCL) incurred by her should be categorised under capital gains income instead of being labelled as business loss, which the Income Tax officer wanted to do.

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