A company is purchasing & selling regularly shares of listed company. The company is in construction business. My Query is:
1) How to value closing stock of shares? whether AS-2 would be applicable? whether the provision for loss would be made on individual basis or on aggregate basis?
2) Whether the profit/loss on sale of shares should be taxable under the head capital gains or speculative gain as provided u/s 73?
CAclubindia
