COMMISSIONER OF INCOME TAX 8 MUMBAI vs. GLOWSHINE BUILDERS AND DEVELOPERS PVT. LTD. MANAGING DIRECTOR

Bench: HON'BLE MR. JUSTICE M.R. SHAH

50C,   the   assessee   stated   that   the assessee had sold its stock in trade and not the assets. The AO made the addition of Rs. 15,94,06,500/­ by treating the same as short term capital gains and consequently, added the same to the income for the year under consideration.   The   Commissioner,   IT (Appeals), Mumbai dismissed the appeal and confirmed