BHARTI GUPTA RAMOLA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Bharti Gupta Ramola has preferred this appeal, which relates to assessment year 2006-07 against the order dated 31 st May, 2011 passed by the Income Tax Appellate Tribunal (tribunal, for short) in ITA No. 5561/Del/2010. By order dated 29 th November, 2011, the following substantial question of law was admitted:

(2.) The facts are undisputed. The appellant is an individual and had income from salary and other sources. The appellant had made investments and had also earned income as long term and short term capital gains on mutual fund instruments and securities.

(3.) During the financial year 2005-06, the appellant had sold two mutual fund instruments on 29 th September, 2005 and 14 th October, 2005 and had shown the income earned as long term capital gains of Rs.18,31,241/- and Rs.2,72,386/- respectively. The aforesaid mutual fund instruments/units were purchased by the appellant assessee on 29 th September, 2004 and 14 th October, 2004.