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Income Tax - Highlights / Catch Notes

Home Highlights June 2015 Year 2015 This

Share transaction - The sole reason assigned by AO for coming to ...


Shares Misclassified as Stock in Trade Due to Same-Day Transfer, Assessment Officer's Decision Found Erroneous.

June 26, 2015

Case Laws     Income Tax     AT

Share transaction - The sole reason assigned by AO for coming to the conclusion that the shares were held as stock in trade was that the shares were transferred on the same date on which it was purchased. This finding is completely erroneous on the face of it - AT

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