https://www.taxtmi.com/caselaws?id=239390 The Tribunal held that the reopening of assessment lacked tangible material and was therefore bad in law, as there was no new information provided beyond what the assessee had disclosed. In regards to the classification of capital gains from the sale of ESOPs, the Tribunal determined that the gains should be treated as long term capital gains since the options were granted more than 36 months before being sold. The appeal was allowed in favor of the assessee, directing the AO to tax the gain as a long term capital gain. en-us Mon, 26 Aug 2013 00:00:00 +0530 Wed, 13 Nov 2013 08:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239390 The Tribunal held that the reopening of assessment lacked tangible material and was therefore bad in law, as there was no new information provided beyond what the assessee had disclosed. In regards to the classification of capital gains from the sale of ESOPs, the Tribunal determined that the gains should be treated as long term capital gains since the options were granted more than 36 months before being sold. The appeal was allowed in favor of the assessee, directing the AO to tax the gain as a long term capital gain. Case-Laws Income Tax Mon, 26 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239390