speculative transaction & capital gain transaction

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Abhishek Goel (Querist)
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12 February 2010 sir,
please tell me that when a transaction will cover under speculative business & when it will cover under capital gain

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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12 February 2010 Any transaction which is normal income activity for the assessee will be cover under PGBP and if any asset transferred which is not Stock-in-trade(means assessee is not normally engaged sale/purchase of that business) then it will cover under CAPITAL GAIN.

SPECULATIVE BUSINESS: means a set-off of Gain or Loss without actual delivery of good/asset, whereas in CAPITAL GAIN you will have to transfer Capital Asset.

Based on above you will find answer of your question.

Regards!!!
Dinesh S. Adhikari