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2013 (9) TMI 1137 - AT - Income TaxIncome from sale of shares - income from short term capital gain OR Income from Business - Held that:- AO accepted the short term capital gain offered by the assessee on sale of shares for the assessment year 2004-05 to 2006-07. We further note that even for the assessment year 2008-09 the AO accepted the claim of the assessee regarding short term capital gain. Thus, it is clear that prior as well as subsequent assessment year to year under consideration, the AO has accepted the claim of the assessee regarding short term capital gain arising from sale of shares. It has not been brought out on record as how the facts are different for the assessment year under consideration so that the rule of consistency should not be followed. - Decided in favour of assessee.
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