M/S.R.S.RANGADAS vs. THE ASST.COMMISSIONER OF INCOME TAX

Appeals are disposed of, with no order as to costs

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

deemed to be the income of the previous year in which the transfer takes place, the Assessing Officer held that income from capital gains from transfer/sale of one lakh equity shares of NIIT would be assessable in the AY 1999-2000 and accordingly claim for deduction under Section 54F would be considered in the said year. Total taxable income

V.C. NANNAPANENI vs. COMMISSIONER OF INCOME TAX,

In the result, the appeals are allowed