https://www.taxtmi.com/highlights?id=63807 Revision u/s 263 by CIT - AO offered the income arising on purchase and sale of shares as business income and duly accepted by the Assessing Officer, the realignment of income proposed in a revisional proceeding is not backed by any cogent basis and is in the realm of surmises. The assessee has paid taxes at the normal rate on such income, and therefore, no prejudice can be attributed to the interest of the Revenue merely because the higher rate of tax can be charged under Section 115BBE. - Tri en-us Wed, 01 Jun 2022 07:42:55 +0530 Wed, 01 Jun 2022 07:42:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=63807 Revision u/s 263 by CIT - AO offered the income arising on purchase and sale of shares as business income and duly accepted by the Assessing Officer, the realignment of income proposed in a revisional proceeding is not backed by any cogent basis and is in the realm of surmises. The assessee has paid taxes at the normal rate on such income, and therefore, no prejudice can be attributed to the interest of the Revenue merely because the higher rate of tax can be charged under Section 115BBE. - Tri Highlights Income Tax Wed, 01 Jun 2022 07:42:55 +0530 https://www.taxtmi.com/highlights?id=63807