ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. NATIONAL E ASSESSMENT CENTRE, NEW DELHI

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

capital gains was not intended to be restricted. Subsequently also when that section was replaced by section 115J, the object

M/S UNIVERSAL DRINKS PVT . LTD.,,NAGPUR vs. A,C.I.T CIR. -2, NAGPUR

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

capital gain. The learned A.R. vehemently submitted that the computation by the Assessing Officer is incorrect and the book profit should be considered at ` 57,27,891, i.e., he pleaded that the loss on sale of shares should be deducted while computing the book profit. 5. The learned Departmental Representative submitted that the order passed by the learned