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
3 is considered to be partly allowed.”
25. In view of the foregoing observations and findings recorded by the ld.CIT(A), we clearly noted that the ld. CIT(A) while adjudicating and dismissing ground No.2 of the assessee concluded that the acquiring of shares of Sesa Goa Ltd. was a business decision and, therefore, the gain earned on sale
