Mismatch in Payment & Share Allotment Dates Raises Doubts; ITAT Indore Remanded Matter for Fresh Examination

Page ContentsVijay Kothari Vs DCIT (ITAT Indore) Vijay Kothari Vs DCIT (ITAT Indore) The Income Tax Appellate Tribunal (ITAT), Indore, allowed the appeal for statistical purposes and restored the matter to the Assessing Officer (AO) for fresh verification of key factual issues relating to the claim of long-term capital gain on sale of shares. The assessee had filed a return declaring total income of ₹9,79,790 and reported exempt long-term capital gain of ₹26,04,470 from sale of 6,000 shares of Sunrise Asian Ltd. The Assessing Officer, during scrutiny, examined the transactions and conclude...