| COURT: | ITAT Kolkata |
| CORAM: | M. Balganesh (AM), S. S. Viswanethra Ravi (JM) |
| SECTION(S): | 10(38), 28, 45, 48 |
| GENRE: | Domestic Tax |
| CATCH WORDS: | Business profits, capital gains, Profit on sale of shares |
| COUNSEL: | Vijay Shah |
| DATE: | January 27, 2017 (Date of pronouncement) |
| DATE: | January 30, 2017 (Date of publication) |
| AY: | 2006-07, 2009-10 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 10(38): If the AO has accepted the claim for exemption for long-term capital gains and conceded that the assessee is an "investor", he cannot change his stand and treat the assessee as a "trader" in respect of the claim of short-term capital gains alone | |
The AO having accepted the claim of exemption u/s 10(38) of the Act for long term capital gains of the assessee had conceded the claim of assessee to be an investor and the AO cannot take a different stand by treating the assessee as a trader in respect of short term capital gains alone
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