TMI Blog2013 (9) TMI 1137X X X X Extracts X X X X X X X X Extracts X X X X ..... year 2008-09 the AO accepted the claim of the assessee regarding short term capital gain. Thus, it is clear that prior as well as subsequent assessment year to year under consideration, the AO has accepted the claim of the assessee regarding short term capital gain arising from sale of shares. It has not been brought out on record as how the facts are different for the assessment year under consid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A.O. 3. The assessee earned income from sale of shares of ₹ 23,36,824/- and offer the same as short term capital gain. The AO has treated the same as business income. On appeal, the CIT(A) has noted that for the assessment year from 2004-05 to 2006-07 the short term capital gain offered by the assessee was accepted by the AO and accordingly by following the decision of this Tribunal i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecord we note that the AO accepted the short term capital gain offered by the assessee on sale of shares for the assessment year 2004-05 to 2006-07. We further note that even for the assessment year 2008-09 the AO accepted the claim of the assessee regarding short term capital gain. Thus, it is clear that prior as well as subsequent assessment year to year under consideration, the AO has accepted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer u/s 143(3) in respect of the immediately succeeding assessment year i.e. 2008-2009 in which income from sale of shares under similar circumstances declared as short term capital gain has been accepted as such. A copy of such assessment order dated 31.12.2010 has been placed on record. The learned AR drew our attention to the fact that the number of shares dealt with in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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