05 Jun 12 Decision Impact Statement - Mehta
The ATO has issued a Decision Impact Statement in relation to the AAT decision in Mehta and FCT  AATA 208; 2012 ATC 10-246. The case concerned whether the taxpayer was carrying on a business of share trading or investing in shares.
The AAT set aside the Commissioner's objection decision and remitted the matter to the Commissioner with the direction that in the tax year ending 30 June 2009 the taxpayer carried on the business of trading in shares.
The ATO's view is that the case was decided on its facts and will not have any impact on any existing or future litigation proceedings.