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2019 (10) TMI 148 - AT - Income TaxGain accrued on disposal of shares - Capital gains OR Business income- chargeable to tax u/s 111A - HELD THAT:- We are of the considered view that the assessee is entitled for claiming/charging of gains under the provisions contained u/s 111A of the Act, consequently the issue is set aside to the AO to accept the claim of the assessee by giving benefit of charging of short term capital gain to tax u/s 111A of the Act after due verification. Consequently, grounds no.1, 2, 3 & 4 are determined in favour of the assessee. Addition on account of STT paid on the ground that the assessee has not filed certificate from NSE/BSE in respect of STT paid and thereby denied the credit to the assessee - HELD THAT:- It is categoric case of the assessee that when the assessee himself has added back the STT paid by disallowing the expenses in its computation of income, the addition is not sustainable. But AO as well as ld. CIT (A) have dealt with the issue without looking into the facts pleaded by the assessee. So, the issue is set aside to the AO to decide accordingly in view of the stand taken by the assessee and on the basis of computation of income filed by the assessee after providing adequate opportunity of being heard to the assessee. Issue decided in favour of the assessee for statistical purposes.
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