Reopening of assessment - sale price of the shares - LTCG or ...

High Court Quashes Reassessment Notice; Share Sale Gains Misclassified Due to Change of Opinion by Assessing Officer.

May 27, 2016

Case Laws Income Tax HC

Reopening of assessment - sale price of the shares - LTCG or STCG - certain shares had been acquired by the Assessee by way of a gift - the statement of shareholding indicating the dates on which the subject shares were acquired was provided to the AO in response to the queries raised by him. - the notice is occasioned by a change of opinion and therefore quashed - HC

View Source

← Previous Next →

Reopening of assessment - sale price of the shares - LTCG or ...

High Court Quashes Reassessment Notice; Share Sale Gains Misclassified Due to Change of Opinion by Assessing Officer.

May 27, 2016

Case Laws Income Tax HC

You may also like:

Validity of reassessment proceedings challenged - capital gain on co-owned land sale - reassessment based on DVO report alleging suppression of lower valuation - reasons...

Gain on sale of shares - accommodation entry or not - the income in question is a bonafide Long Term Capital Gain arising from the sale of shares and hence exempt from income tax

Validity of reopening an assessment u/s 147 of the Income Tax Act, the distinction between "change of opinion" and "reasons to believe," and the classification of income...

Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently...

Correct head of income - Gain on sale of shares - nature of purchase of shares either as “investment” or “stock-in-trade” - AO has not given any clear cut finding that...

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

The case involved determining whether gains from the sale of shares allotted in an IPO should be classified as Short-Term Capital Gains (STCG) or business income. The...

Profit from sale of shares - LTCG or STCG - Benefit of Indexation - the STT is to be paid only if the shares were sold in the stock exchange and since the assessee has...

Claim of exemption u/s 10(38) on long term capital gain from sale of shares - AO only on extraneous considerations and presumptions & surmises has concluded that...

The High Court quashed the reassessment proceedings initiated by the Assessing Officer u/s 148 of the Income Tax Act, holding it to be a case of "change of opinion" and...

Sale of shares allotted to the assessee under employee stock option plan[ ESOP] and taking the sale value above fair market value as income from other source u/s 56 (2)...

Gain on sale of shares - Business income or Capital Gains - Adventure in the nature of trade - Just because the assessee has shifted from the IPOs and has made a...

Gain on sale of shares - capital gains or business income - buy back of shares by the borrowers - the object of trading in shares was lacking in as much as the financial...

Exemption u/s. 54EA - transfer of shares held as stock-in-trade - transfer of unlisted shares of DSPML is to be taxed under the head “capital gains” irrespective...

The ITAT Nagpur considered the validity of reassessment proceedings u/s 147. The AO issued notice beyond four years alleging capital gain on "Sale of Vehicles" escaped...

Quick Updates: