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2011 (9) TMI 107 - AT - Income TaxIncome from share dealing as business income or capital Gain. - Allowance of deduction unless the same is claimed in the return of income or in the revised return of income. However, the assessee can claim deduction before the appellate authorities by filing an additional ground or not. Income from Share dealing - held that:- the capital gain or profit from shares can be ascertained if one ascertains the cost. AO will make an exercise to ascertain the income which is to be taxed under the head capital gain, profit or loss or speculative business or profit from shares. Remand back to for Statistical Purpose. Allowance of deduction not claimed before. - held that:- This claim will be considered by the AO as we had already restored the computation of income before the AO. decided in Assessee but remand back to AO for statistical purpose.
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