M/S JAICO AUTOMOBILE ENGINEERING COMPANY PVT LTD ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-11(5), BANGALORE

In the result, the appeal by the assessee is dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2007-08

capital gains as computed and upheld is liable to be deleted. Page 4 of 40 16. On the facts the learned Commissioner (A)ought to have accepted the explanation and submissions made by the appellant and refrained from upholding the impugned additions. 17. Without prejudice, the learned Commissioner (A)erred in not giving any finding with regard to levy