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2 results for “section 68”+ Section 302clear

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Key Topics

Section 684Unexplained Cash Credit2Addition to Income2

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI vs. SHRI PANNALAL BHANSALI, GUWAHATI

In the result, appeal of the revenue as well as the Cross

ITA 428/GTY/2019[2016-17]Status: DisposedITAT Guwahati31 Aug 2023AY 2016-17

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2016-17

For Respondent: Shri P. S. Thuingaleng, ACIT
Section 10(38)Section 143(2)Section 143(3)Section 68

68 of the Act b) Addition on account of Long Term - Rs.2,58,69,249/- Capital Gain (LTCG) claimed as exemption u/s. 10(38) and Short Term Capital Gain (STCG) c) Disallowance of loss from trading - Rs.20,22,293/- in commodity and F&O derivatives 2.2. In the addition and disallowance at (a) and (b) above, revenue is in appeal

NILKANTHA SAHA,MORIGAON vs. INCOME TAX OFFICER, WARD-MORIGAON, MORIGAON

In the result, the appeal of the assessee is allowed

ITA 88/GTY/2020[2017-18]Status: DisposedITAT Guwahati17 Feb 2021AY 2017-18

Bench: Shri A. T. Varkey, Jm]

Section 133Section 133ASection 68

Section of the Act can be made as it would be a double addition. In the result, we delete the addition made and allow its claim of the assessee." [Emphasis by me] 8. Relying on the ratio of the above decision of the Tribunal, the Ld. A.R submits that in this case, when the AO had accepted