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2013 (7) TMI 944 - HC - Income TaxCapital gain - LTCG OR STCG - dates of acquisition of the shares for determining capital gain - Held that:- The assessee had given the dates of allotment, but this had to be verified by the Assessing Officer. For the purpose of verification, the matter was remanded. It was directed that if the dates of allotment of shares were found to be correct, the Assessing Officer would accept the claim of the assessee relating to long term capital gain and pass consequential order. Thus, what was to be verified and examined were the dates of allotment of shares. While examining the said aspect, the Assessing Officer had to go into the question as to when the shares were actually allotted as per the stock option plan. It cannot be said here that hands of the Assessing Officer were tied and he could not have gone into the question of date of allotment and should have been treated the date of vesting as the date of allotment. There is no such observation or finding by the tribunal. In view of the concession made by the both sides, tribunal had not examined and answered any aspect on merits. The Assessing Officer has specifically gone into the question as to when the allotment has taken place i.e. the date of allotment as per the stock option plan. He had made observations in this regard and recorded his findings. The first appellate authority and tribunal have not gone into the said aspect and merits. We answer the question of law in favour of the appellant-Revenue and against the respondent-assessee, but with an order of remand to the tribunal for deciding whether the findings recorded by the Assessing Officer on the question of date of allotment are correct or not
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