[aaykarbhavan] No reassessment to tax gains from sale of shares as business income if all details were given during assessment

 

No reassessment to tax gains from sale of shares as business income if all details were given during assessment

October 4, 2014[2014] 49 taxmann.com 105 (Gujarat)

IT: Where assessee had given complete details of his share transactions by bringing on record stock transaction summary at time of making assessment, initiation of reassessment proceedings merely on basis of change of opinion that capital gain declared from sales of shares was taxable as business income, was not sustainable

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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