MUTHUSAMY SHANMUGAM,CHENNAI vs. ITO, INTERNATIONAL TAXATION WARD-2(2), CHENNAI
In the result, the appeal of the assessee is allowed
ITA 362/CHNY/2023[2013-14]Status: DisposedITAT Chennai30 Nov 2023AY 2013-14
Bench: Shri Manjunatha. G & Shri Manomohan Dasआयकर अपील सं./Ita No.362/Chny/2023 िनधा(रण वष( /Assessment Year: 2013-14 Muthusamy Shanmugam, The Income Tax Officer, C/O.Ramesh & Ramachandran, Cas Vs. Ward-2(2), New No.39, Old No.29/3, Chennai. Viswanathapuram Main Road, Kodambakkam, Chennai – 600 024. [Pan: Dghps-7897-P] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri Y. Sridhar, F.C.A ""यथ" क" ओर से /Respondent By : Shri V. Nandakumar, Cit सुनवाई क" तारीख/Date Of Hearing : 21.09.2023 घोषणा क" तारीख /Date Of Pronouncement : 30.11.2023 आदेश / O R D E R
For Appellant: Shri Y. Sridhar, F.C.A ""For Respondent: Shri V. Nandakumar, CIT
Section 142(1)Section 143(2)Section 143(3)Section 147Section 149Section 69
purchase agreement on 17-05-
2011 with M/s Par Pharmaceuticals LLC, a Delware Corporation for
sale of shares. The assessee admitted sale consideration of his share
and arrived at long term capital gains of Rs. 54,01,85,018. The
assessee claimed cost of acquisition and transaction expenses. The
ld. AO noticed that the assessee set off Short term capital
