2020 (6) TMI 434 - SCH - Income Tax

Reopening of assessment u/s 147 - gain on sale of shares - profit out of sale of shares was taxable under the normal provisions or that it was excluded for the purpose of computing book profit u/s 115JB - HELD THAT - Delay condoned. The Special Leave Petition is dismissed. Pending application stands disposed of.

Summary

The Supreme Court dismissed the Special Leave Petition after condoning the delay. The pending application was disposed of. Justices Nariman, Sinha, and Gavai were part of the bench.