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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 had sold shares of NDTV at Rs. 4, though value of said shares was Rs. 140 per share on same day in stock exchange, difference between selling price and market value was to be added by invoking provision of section 56(2)(vii)
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