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Case Law Details

Case Name : Commissioner of Income Tax Vs Jaswind Singh Ahuja (Delhi High Court)
Related Assessment Year :
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Penalty proceeding u/s 271(1)(c ) imposed on the basis of that the assessee declared short term gains on the sale of the stock options instead of long term capital gains is not justified.

The question whether the sale of the stock options would result in long term capital gains or short term gains was not very clear at the time when the respondent/ assessee filed his return for the assessment year 2002-03. I

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