Held that the assessee was allotted Shares prior to Dematerialisation of shares. Purchase of shares cannot be doubted date has to be proved by assessee. Capital gains is to be categorised as short-term or long-term. Matter remanded to Assessing Officer. (AY.2014-15 to 2016-17)
Nidhi Manan Shah v. ITO (2024)116 ITR 62 (SN)(Mum)(Trib)
S. 45: Capital gains-Long-term capital gains-Purchase and sale of shares-Penny stock-Matter remanded to the Assessing Officer. [S. 10(38)]