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

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. M/S PUNJAB RICE LAND PRIVATE LIMITED, TARN TARAN

In the result, both the appeals of the revenue are dismissed and