SOCIEADADE DE FOMENTO INDL. PVT. LTD.,MARGAO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE, MARGAO
In the result, the appeal of the assessee is partly allowed and that of the Revenue is dismissed
ITA 105/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11
Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal
For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR
Section 143(1)Section 143(2)Section 14A
140 (Bom) and CIT vs. Vinay Mittal (2012)
208 Taxman 106 (Delhi).
The explanation of the Authorised Representative is considered and found not acceptable for the following reasons :
(i)
It is seen that the assessee purchased shares of Sesa Goa
Ltd.
of Rs.362,32,20,410/- and sold the same for Rs.554,23,19,978/-. The purchase and sale
