Tribunal decision upheld by High Court regarding addition on sale of shares for assessment year 2002-03

The High Court of Allahabad upheld the Tribunal's decision to delete the addition of Rs. 52,573 by the assessing authority on the sale of shares for the assessment year 2002-03. The Tribunal determined that the amount represented the initial value of shares purchased by the assessee in the previous year. The appeal was dismissed.

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The High Court of Allahabad in the case of assessment year 2002-03 ruled that the Tribunal was correct in deleting the addition of Rs. 52,573 made by the assessing authority on the sale of shares by the assessee. The Tribunal found that the amount was the initial value of the shares purchased by the assessee in the previous year. The appeal was dismissed.

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