In the result, the appeal fails and is hereby
Bench: ALOK ARADHE,H.T. NARENDRA PRASAD
144C of the Act, the Assessing Authority, vide order dated 18.02.2011 inter alia held that assessee had acquired foreign currency convertible bonds and after conversion of the same into shares, sold the same during the relevant previous year and disclosed short term capital gains from the transaction and paid tax thereon at the prescribed rate. It was further held that