{"id":20713,"date":"2021-07-27T16:24:09","date_gmt":"2021-07-27T10:54:09","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=20713"},"modified":"2021-07-30T04:26:24","modified_gmt":"2021-07-29T22:56:24","slug":"purchases-of-shares-accepted-u-s-1433-147-in-a-y-11-12-ltcg-on-sale-of-such-shares-in-ay-15-16-doubted-by-ao-by-issue-of-notice-u-s-148","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/purchases-of-shares-accepted-u-s-1433-147-in-a-y-11-12-ltcg-on-sale-of-such-shares-in-ay-15-16-doubted-by-ao-by-issue-of-notice-u-s-148\/","title":{"rendered":"PURCHASES OF SHARES ACCEPTED U\/S 143(3)\/147 IN A.Y. 11-12 , LTCG ON SALE OF SUCH SHARES IN AY 15-16 DOUBTED BY AO BY ISSUE OF NOTICE U\/S 148"},"content":{"rendered":"<p>During FY. 10-11 Assessee purchased certain shares through banking channels . The shares were transferred in the D-mat account and the same were reflected in the Balance sheet as on 31.03.11. Case for the issue was reopened u\/s 148 notice dated 31.03.18 . On the basis of information of DDIT (Inv.). The assessee objected to 148 and also furnished the details as regards the source of investment and after considering the details furnished the AO was satisfied and the assessment was completed on returned income u\/s 143(3)\/147.<\/p>\n<p>The above referred shares were sold during F.Y. 14-15 (A.Y. 15-16) through stock broker . STT was paid and payment was received through banking channels and deduction u\/s 10(38) of LTCG was claimed.<\/p>\n<p>The case for A.Y. 15-16 has been reopened by issue of notice u\/s 148 dated 31.03.2021.<\/p>\n<p>Since the purchases of the shares have been accepted in assessment u\/s 143(3)\/147 for A.Y. 11-12 . Whether the sale of the same shares in claim of LTCG can be disputed\u00a0 by A.O.<\/p>\n<p>Please give your valuable reply with citations.<\/p>\n<p>Thanks<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[22],"qa_category":[23],"qa_tag":[24,136,313],"class_list":["post-20713","qa","type-qa","status-publish","hentry","qa_expert-advocate-neelam-jadhav","qa_category-income-tax","qa_tag-capital-gains","qa_tag-reassessment","qa_tag-sale-of-shares"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/20713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=20713"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=20713"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=20713"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=20713"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=20713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}