https://www.taxtmi.com/caselaws?id=278403 Where share transactions are duly reflected in the books of account, the head of income should not be recharacterised arbitrarily in the absence of contrary evidence. The Tribunal noted that the Revenue must first examine the conditions under CBDT Circular No. 6/2016 before disturbing the assessee's treatment of share sale income. The matter was therefore remanded to the Assessing Officer for fresh adjudication after giving the assessee a reasonable opportunity of being heard, with only statistical relief granted and no final decision on merits. en-us Fri, 18 Nov 2016 00:00:00 +0530 Thu, 31 Jan 2019 06:36:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278403 Where share transactions are duly reflected in the books of account, the head of income should not be recharacterised arbitrarily in the absence of contrary evidence. The Tribunal noted that the Revenue must first examine the conditions under CBDT Circular No. 6/2016 before disturbing the assessee's treatment of share sale income. The matter was therefore remanded to the Assessing Officer for fresh adjudication after giving the assessee a reasonable opportunity of being heard, with only statistical relief granted and no final decision on merits. Case-Laws Income Tax Fri, 18 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278403