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2010 (9) TMI 81 - HC - Income Tax
LTCG - the assessees had claimed/offered long-term capital gains on sale of shares of various listed companies, which were all accepted by the Assessing Officer in the respective assessments. Thereafter, on account of search, proceedings were initiated under section 153A of the Act. Held:- it is seen that the shares in question were in fact purchased by the assessees on the respective dates and the company has confirmed to have handed over the shares purchased by the assessees. Reliance placed by the counsel for the Revenue on the decision of the apex court in the case of Sumati Dayal 1995 -TMI - 5469 - SUPREME Court is wholly mis- placed. the decision of the Tribunal is based on findings of fact. No substantial question of law arises.