https://www.taxtmi.com/caselaws?id=339483 The Tribunal ruled in favor of the assessee in a case concerning the assessment of Short Term Capital Gains (STCGs) under section 111A of the Income Tax Act, 1961. The Commissioner's order under section 263 was set aside, emphasizing the importance of maintaining separate records for different types of share transactions. The Tribunal found that the Assessing Officer had properly enquired and applied the concessional tax rate, deeming the assessment order as not erroneous. The decision highlighted the reasonableness of accepting the declared capital gains as STCGs, ultimately favoring the assessee and rejecting the Commissioner's order. en-us Mon, 20 Feb 2017 00:00:00 +0530 Tue, 28 Feb 2017 11:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339483 The Tribunal ruled in favor of the assessee in a case concerning the assessment of Short Term Capital Gains (STCGs) under section 111A of the Income Tax Act, 1961. The Commissioner's order under section 263 was set aside, emphasizing the importance of maintaining separate records for different types of share transactions. The Tribunal found that the Assessing Officer had properly enquired and applied the concessional tax rate, deeming the assessment order as not erroneous. The decision highlighted the reasonableness of accepting the declared capital gains as STCGs, ultimately favoring the assessee and rejecting the Commissioner's order. Case-Laws Income Tax Mon, 20 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339483