https://www.taxtmi.com/caselaws?id=300543 The Court condoned the delay and allowed the application under Section 5 of the Limitation Act. It upheld the Tribunal's decision that the shares in question were investments, not stock in trade, based on various factors. The Court found that the Assessing Officer's view was reasonable and not erroneous, thus the assessment order could not be modified under Section 263. No substantial question of law was identified, leading to the dismissal of the appeal. All parties were directed to comply with the Court's order. en-us Wed, 06 Aug 2008 00:00:00 +0530 Thu, 10 Feb 2022 10:05:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300543 The Court condoned the delay and allowed the application under Section 5 of the Limitation Act. It upheld the Tribunal's decision that the shares in question were investments, not stock in trade, based on various factors. The Court found that the Assessing Officer's view was reasonable and not erroneous, thus the assessment order could not be modified under Section 263. No substantial question of law was identified, leading to the dismissal of the appeal. All parties were directed to comply with the Court's order. Case-Laws Income Tax Wed, 06 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300543