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Holding period of shares transfer by NDTV’s promoter from self to joint DEMAT A/c reckoned from date of transfer

June 18, 2019[2019] 106 210 (Delhi - Trib.)/[2019] 73 ITR(T) 239 (Delhi - Trib.)

INCOME TAX : Where there was a definite information coming from Investigation Wing alleging non-disclosure of short term capital gain on sale of share by assessee-director of NDTV and Assessing Officer verified that assessee had not disclosed correctly short-term capital gain on sale of shares from joint account along with her husband, reopening of assessment was justified

INCOME TAX : Where an individual on or after 1-10-2009, receives any property other than immovable property for a consideration, which is less than aggregate fair market value of property by an amount exceeding Rs. 50,000, aggregate of fair market value of such property as exceeds such consideration is chargeable to tax under head 'Income from other sources'

INCOME TAX : Where assessee purchased shares of NDTV from a company RRPR at rate of Rs. 4 per share, while these shares were being traded on BSE at Rs. 137 and on same day, assessee sold shares to RRPR at rate of Rs. 140 per share, addition made on account of difference between purchase price of shares of NDTV and market price of those shares quoted on recognized stock exchange in hands of assessee by invoking section 56(2)(vii) was justified
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