Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2004 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2004 (2) TMI 35 - HC - Income TaxCapital gains – year of taxability - "Whether, the assessment order by ITO for the AY 1977-78 could not be revised by the CIT under section 263, on the ground of being erroneous and prejudicial to the interests of the Revenue inasmuch as the long-term capital gain on the contribution of capital in the shape of cut precious stones valued at Rs. 15,32,000 had accrued in the AY 1976-77 and not in the AY 1977-78, the income by way of deemed capital gain was assessable for previous year on financial year basis ?"
|