ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-2, JAIPUR vs. M/S. ANGEL INFRASTRUCTURE PRIVATE LIMITED, JAIPUR

In the result, appeal of the assessee is partly allowed and the

purchase and sale and creating artificial ITA 464 & 761/JP/2018_ 53 M/s Angel Infrastructure P Ltd. Vs DCIT short term capital loss was a preconceived design to avoid tax liability on the capital gain arising from sale of shares as well as other income. The assessee instead of transferring the shares to the group concern without any consideration would have requested

M/S ANGEL INFRASTRUCTURE (P) LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is partly allowed and the