KUMAR ARUNOSAYA,PATNA vs. A.O., CIRCLE-6, PATNA

In the result, the appeals of the assessee are allowed, the appeals of the revenue is dismissed and the Cross-objections of the assessee are also dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

section; as enumerated in the show cause notice reproduced above to which the assessee failed to provide any satisfactory reply/explanation. 9. Therefore, the exemption claimed by the assessee u/s 54EC and 54F are hereby disallowed. It is not out of place to bring it on record that the assessee was liable to declare Long Term Capital Gains

DCIT, CIRCLE-4, PATNA vs. KUMAR ARUNODAYA, PATNA

In the result, the appeals of the assessee are allowed, the appeals of the revenue is dismissed and the Cross-objections of the assessee are also dismissed