{"id":6570,"date":"2019-08-19T12:48:02","date_gmt":"2019-08-19T12:48:02","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-envision-investment-finance-p-ltd-2019-264-taxman-242-bom-hc\/"},"modified":"2019-08-19T12:48:02","modified_gmt":"2019-08-19T12:48:02","slug":"pcit-v-envision-investment-finance-p-ltd-2019-264-taxman-242-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-envision-investment-finance-p-ltd-2019-264-taxman-242-bom-hc\/","title":{"rendered":"PCIT  v. Envision Investment &#038; Finance (P.) Ltd. (2019) 264 Taxman 242 (Bom.)(HC)"},"content":{"rendered":"<p>Assessee earned income from sale of shares. AO assessed entire gain as business income.\u00a0 Tribunal held that shares which were sold after period of one year would give rise to long-term gain.\u00a0\u00a0 In appeal the revenue\u00a0 raised the question framed related to applicability of Explanation to S. 73 of the Act. Dismissing the appeal the Court held that applicability Explanation to S. 73 cannot be raised for first time in proceedings pending before High Court.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 260A : Appeal-High Court\u2013Sale of shares-Income earned from sale of shares held for more than one year\u2013Held as long-term capital gain- Applicability Explanation to S. 73  cannot be raised for first time in proceedings pending before High Court. [S. 45, 73]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6570","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1HY","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=6570"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6570\/revisions"}],"predecessor-version":[{"id":6571,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6570\/revisions\/6571"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}