Case Law Details
Case Name : The DCIT Circle-2 Vs Shri Mahender Kumar Bader (ITAT Jaipur)
Appeal Number : ITA Nos. 605/JP/2013
Date of Judgement/Order : 18/03/2016
Related Assessment Year : 2008-09
Courts :
All ITAT ITAT Jaipur
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
CA Saurabh Chokhra
Brief of the case:
The ITAT Bench Jaipur in the above cited case held that as per CBDT circular 6/2016 dated 29.02.2016 , if the assessee has treated the securities as investment and not as stock in trade earlier years,the revenue is not permitted to take a contrary view in the present year to claim that the security is stock in trade
Facts of the case:
1. Assessee filed his return of income declaring total income of Rs. 85,86,760/-. During the course of assessment proceedings, the AO observed that the assessee claimed investment activity and shown short term capital gain from share transaction of Rs 73,70,214/-.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.