THE ACIT, CIRCLE 2(1), INDORE vs. DR. SHRI RAJEEV CHAUDHARY, INDORE
In the result, the appeal of the revenue is allowed and cross objection of the assessee is partly allowed
ITA 293/IND/2012[2008-09]Status: DisposedITAT Indore10 Jan 2019AY 2008-09
Bench: Hon'Ble I Kul Bharat & Hon'Ble Manish Boradassessment Year 2008-09 Pan : Abkpc5729K Assistant Commissioner Of V/S Dr.Rajeev Choudhary Income Tax, 1, Shiv Vilas Palace Circle-2(1), Indore Indore
Section 147Section 14A
penalty u/s 271 (1 )(c ) is initiated.
The above issue is also dealt by the Hon'ble ITAT, Mumbai in two recent cases and held as under :-
(A) Sadhana Nabera vs. ACIT (ITAT Mumbai) dated 2510512010
Rajeev Choudhary
ITA Nos.293/Ind/2012& C.O.No.65/Ind/2012
Tests laid down to determine whether income from shares is "business"
income or "capital gains"
The assessee