2007 (8) TMI 774

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..... ome-tax Appellate Tribunal ('Tribunal'), Delhi-XVI, in ITA No. 1211/2005 relevant for the assessment year 2001-02. 2. This appeal under section 260A of the Income-tax Act, 1961 ('the Act') arises out of penalty proceedings. Initially the Assessing Officer had accepted the return submitted by the assessee but the Commissioner of Income-tax (Appeals) exercised powers under section .....

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..... between the vesting of shares and selling them was sufficient to put the differential amount in the category of long-term capital gains, this was initially accepted by the Assessing Officer. 5. After imposition of penalty as mentioned above, the Commissioner of Income-tax (Appeals) was of the view that the assessee had furnished all the necessary and relevant particulars and that there was no q .....

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