MAX FINANCIAL SERVICE LIMITED ,NAWANSHAHR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, JALANDHAR

In the result, the appeal of the assessee is therefore partly allowed

1) A complete disclosure of the aforesaid book loss of Rs.4037.19 lacs had been made and reported in the financial statements and the capital loss generated under the provisions of the Act had also been duly disclosed. The transaction had been evidenced by copy of sale deed pertaining to the transfer of shares. 2) Copy of Valuation Report determining

SHRI NITIN AIMA,SHRINAGAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3, SRINAGAR

The appeal of the assessee is dismissed