https://www.taxtmi.com/caselaws?id=297735 The Tribunal ruled that there is no distinction between listed and unlisted shares for classification as Short Term Capital Asset under the Income Tax Act. It upheld the CIT(Appeals) decision that shares held for more than twelve months qualify as Long Term Capital Assets. The Tribunal also clarified that the CIT(Appeals) has the authority to review assessment orders and dismissed the Revenue's plea regarding jurisdictional issues. As a result, the Revenue's appeal was dismissed for lacking merit. en-us Mon, 07 Apr 2014 00:00:00 +0530 Tue, 21 Sep 2021 08:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297735 The Tribunal ruled that there is no distinction between listed and unlisted shares for classification as Short Term Capital Asset under the Income Tax Act. It upheld the CIT(Appeals) decision that shares held for more than twelve months qualify as Long Term Capital Assets. The Tribunal also clarified that the CIT(Appeals) has the authority to review assessment orders and dismissed the Revenue's plea regarding jurisdictional issues. As a result, the Revenue's appeal was dismissed for lacking merit. Case-Laws Income Tax Mon, 07 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297735