Correct head of income - income arising from sale of shares - ...

CBDT Circular: Income from shares held over 12 months is capital gains; consistent classification required yearly.

June 22, 2022

Case Laws Income Tax AT

Correct head of income - income arising from sale of shares - CBDT Circular, as relied upon by Ld. CIT(A), clearly provide that in respect of listed shares and securities held for a period of more than 12 months, if the assessee desires to treat the income arising thereof as capital gains, the same not be put to dispute by AO - This stand once taken by the assessee in a particular year shall remain applicable in subsequent years also and the taxpayer shall not be allowed to adopt a different/contrary stand in this regard in subsequent years. - AT

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Correct head of income - income arising from sale of shares - ...

CBDT Circular: Income from shares held over 12 months is capital gains; consistent classification required yearly.

June 22, 2022

Case Laws Income Tax AT

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