Wednesday, February 6, 2019

Sale of shares demarcated as investment in balance sheet chargeable to tax as capital gains

IT: Where assessee had clearly demarcated shares as investment in its balance sheet, profit arising on sale of shares was chargeable to tax as capital gains

from www.taxmann.com Latest Case Laws http://bit.ly/2MVIWJO

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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