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2016 (9) TMI 1374 - ITAT CHANDIGARHReopening of assessment - addition u/s 68 - claim of the assessee of short term capital gain - Held that:- At the original assessment stage, assessee declared short term capital gain and the Assessing Officer after raising specific query in this regard and considering facts and material on record, accepted the claim of the assessee of short term capital gain under section 143(3) dated 06.05.2008. There is no failure on the part of the assessee to disclose truly and correctly the material facts necessary for assessment, therefore, it is a case of mere change of opinion for initiating re-assessment proceedings. - Decided in favour of assessee.
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