2017 (3) TMI 1058

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....1 (the Act) challenges the order dated 28th March, 2014 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 2005-06. 2. This appeal raises the following question of law for our consideration : "(i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in confirming the order of the Commissioner....

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.... accepted the respondent-assessee's contention that the sale proceeds are genuinely on account of sale of shares i.e. amount received from CSL Stock Broking (P)Ltd. on the sale of shares of KCL. Consequently the CIT(A) deleted the addition made on account of the aforesaid sale of shares as income from undisclosed source and accepted the respondents claim of being a short term capital gain. 4....