Income arising from sale of shares to be taxed as ‘Long term capital gain’ and not as ‘Income from other sources’

IN THE ITAT AGRA BENCH (THIRD MEMBER) Smt. Amita Agarwal Vs. Assistant Commissioner of Income Tax IT APPEAL NOS. 182 AND 323 (AGRA) OF 2006 [ASSESSMENT YEARS- 2001- 02 AND 2002- 03] DATE OF DECISION- AUGUST 30, 2011 ORDER G.E. Veerabhadrappa, Vice-President (As a Third Member)- These two appeals are by two different individuals. The case of Smt.Amita Agarwal is for the assessment year 2001-02 while the case of Shri Rajesh Kumar Garg is for assessment year 2002- 03. 2. The only issue of difference between the Members of the Division Bench constituted in these cases was the non...