ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

14A was not sustainable.\nIn view of the fact claim made by the assessee is true and correct and same may kindly be allowed.”\nThe learned CIT(A), while considering the submissions of the assessee emphatically, held that the addition made by the Assessing Officer is factually as well as legally incorrect and the disallowance of exemption under section

ACIT-CENTRAL CIRCLE -2(1), NAGPUR vs. SHRI NANDKUMAR KHATTUMAL HARCHANDANI , NAGPUR

In the result, appeal of the Revenue stands dismissed

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

price of M/s. ParagShilp Infrastructure & Services Ltd. to enable to assessee to legitimize his unaccounted fund. x) On the facts and circumstances of the case & in law, the Ld. CIT(A) failed to appreciate that the entire gamut of direct & circumstantial evidence placed on record shows that claim of Long Term Capital Gain is Bogus in nature