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TMI Blog2012 (6) TMI 837X X X X Extracts X X X X X X X X Extracts X X X X ..... rnishing of any inaccurate particulars. It is not the case of the Revenue that the assessee has either concealed any fact or has submitted any wrong or incorrect fact. It is only the question of opinion whether the income from sale of stock option is assessable as short term capital gain or as long term capital gain. Thus mere making a claim which is not admissible does not lead to furnishing inac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd. For the AY 2004-05, he filed a return of income at ₹ 1,75,05,081/- comprising of salary income at ₹ 1,02,72,400/- from Cadence Design Systems India Pvt.Ltd. and salary income of ₹ 65,97,305/- from Cadence Design System Inc., USA. The assessee has been granted stock option under an incentive stock option agreement dated 17th September, 1993 with Cadence Design Systems, USA. D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee) or short term capital gain (as assessed by the AO). Apparently, there is no concealment of any fact or furnishing of any incorrect or wrong fact. Merely because in the opinion of the Assessing Officer the income from sale of stock option is assessable as short term capital gain and not as long term capital gain, it would not amount to concealment of income. In our opinion, on the fact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see has either concealed any fact or has submitted any wrong or incorrect fact. It is only the question of opinion whether the income from sale of stock option is assessable as short term capital gain or as long term capital gain. In view of the above, respectfully following the above decision of Hon ble Apex Court in the case of Reliance Petroproducts Pvt.Ltd., we uphold the order of learned CIT( ..... X X X X Extracts X X X X X X X X Extracts X X X X
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