2014 (5) TMI 1145

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.... E R PER P.M.JAGTAP,AM: This appeal filed by the assessee is directed against the order of ld. CIT(A)- 30, Mumbai, dated 20.11.2012 and the solitary issue arising out of the same relates to the addition of Rs. 228477/- made by the AO u/s 94(7) of the Income Tax Act (the Act) which is confirmed by the ld. CIT(A). 2. The assessee in the present case is an individual who is engaged in the pr....

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....whereas the loss arising on sale of shares held for a period of more than six months and less than one year amounting to Rs. 75,11,241/- was treated by him as Short Term Capital loss. The dividend income earned by the assessee on the shares acquired within a period of three months prior to the record date and sold within a period of three month after such date amounting to Rs. 2,28,417/- was added....

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....d for a period of less than six months has been treated by the ld. CIT(A) as short term capital gain in the hands of the assessee and as submitted by the ld. counsel for the assessee, the department has not filed an appeal before the Tribunal against the order of ld. CIT(A) on this issue. It therefore, follows that the entire profit/loss arising to the assessee on sale of shares has been finally t....