Section 263 Revision: Capital Gain from Share Sale Excluded from Book Profit Tax, AO's Inquiry Found Inadequate.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Revision u/s 263 - capital gain earned by the assessee on sale of the shares has not been offered for the Book Profit tax under section 115JB - since no proper inquiry was conducted by the AO, the order is erroneous so far as it is prejudicial to the interest of the revenue.....