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2023 (1) TMI 76 - SCH - Income TaxBenefit of Vivad Se Vishwas Scheme - petitioner has filed application filed u/s 154 of the Income Tax Act, 1961 for rectification of some errors, which is partly allowed - HELD THAT:- Petitioner has filed application filed u/s 154 for rectification of some errors, which is partly allowed. The petitioner has filed another application which is pending. We take the statement on record, the special leave petition insofar, which relates to the year 2006-2007 is dismissed as withdrawn. We clarify that we have not commented on the merit of the computation of tax made under the aforesaid scheme or on the grievance or remedy, which would be available to the petitioner. Income/capital gain earned on sale of shares - LTCG or STCG - AY 2010-2011 - HELD THAT:- We are inclined to grant leave in respect of income/capital gain earned on sale of shares of M/s J.K. Investo Trade Ltd., M/s Mujnal Showa Ltd. and Samtel Colours Ltd. The parties are given liberty to file additional documents in respect of the said shares. Gain on sale on shares - LTCG OR STCG - HELD THAT:- No good ground and reason to interfere with the impugned order passed by the High Court [2015 (7) TMI 813 - KERALA HIGH COURT] affirming the decision passed of the Income Tax Appellate Tribunal as the period of holding of the shares sold in the present case was less than one year. We have also taken into account the frequency of transactions.
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