M/S UNIVERSAL DRINKS PVT . LTD.,,NAGPUR vs. A,C.I.T CIR. -2, NAGPUR
ITA 184/NAG/2016[2004-05]Status: DisposedITAT Nagpur15 Jul 2024AY 2004-05
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri Rajesh Loya a/wFor Respondent: Shri Abhay Y. Marathe
Section 115Section 115J
391. We find from the Profit & Loss A/c that there is a separate gain on sale of shares of ` 80,77,605. The assessee has considered net gain as part of book profit, whereas the Assessing Officer is only considering the gross gain on sale of share without deduction of the amount of capital gain. The learned A.R. vehemently submitted
