Dismissing the appeal of the revenue the Tribunal held that,preceding and subsequent years department , accepting income on account of sale of investments as short term capital gains. Sale consideration is assessable as capital gains .Circular No. 6 of 2016 dt.29-03- 206 ( 2016) 382 ITR 14 (St) FollowedRadhasoami Satsang v. CIT ( 1992) 193 ITR 321 (SC) ( AY.2010-11)
ITO v. Divyam TIE-UP Pvt. Ltd. (2018) 65 ITR 75( SN) (Kol.) (Trib)
S.45: Capital gains — Business income — Sale of shares- Principle of consistency- Preceding and subsequent years department , accepting income on account of sale of investments as short term capital gains- Sale consideration is assessable as capital gains .[ S.28(i) ]