V.S.GOKUL,COIMBATORE vs. ITO NON CORPORATE WARD 2(4), COIMBATORE
The appeal stands allowed
ITA 674/CHNY/2019[2012-13]Status: DisposedITAT Chennai03 Nov 2021AY 2012-13
Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.674/Chny/2019 (िनधा"रण वष" / Assessment Year: 2012-13) Shri V.S.Gokul The Income Tax Officer बनाम/ 60, Sakthi Enclave, Ward-2(4), Narayana Guru Road, Saibaba Colony, Coimbatore. Vs. Coimbatore-641 011. !थायीलेखासं./जीआइआरसं./Pan/Gir No. Akjpg-1402-F (अपीलाथ./Appellant) : (12थ. / Respondent) अपीलाथ.कीओरसे/ Appellant By : Shri N.C.Ravi Krishnan, Advocate 12थ.कीओरसे/Respondent By : Shri Arv Sreenivasan – Ld. Addl. Cit
For Appellant: Shri N.C.Ravi Krishnan, AdvocateFor Respondent: Shri ARV Sreenivasan – Ld. Addl. CIT
Section 143(3)Section 2Section 28Section 56(2)(vii)
13A) of the I.T. Act.
2. The learned Commissioner of Income Tax (Appeals) has erred in law and in facts by treating notional alleged profit from purchase of capital asset which ought to be considered under Income from Other sources head, wrongly as business transaction. The learned Commissioner of Income Tax (Appeals) has failed to consider that no business profit
