INDERPAL SINGH AHUJA vs. THE ASSESSING OFFICER-CUM-A.C.I.T. ORS

Bench: MR. JUSTICE AMARINDER SINGH GREWAL,MR. JUSTICE JAGMOHAN BANSAL

long-term capital gain and consequential tax liability. The appellant preferred appeal which came to be dismissed vide

M/S VIJAY KUMAR GARG CONTRACTORS vs. COMMISSIONER OF INCOME TAX

Appeal is allowed

Bench: MR. JUSTICE SANJEEV PRAKASH SHARMA,MR. JUSTICE SANJAY VASHISTH

long terms capital gain of amount of Rs. 23,49,426 Was rom the income for working out an amount

M/S PANCHSHEEL TEXTILE MANFAC. & TRAD. vs. C I T AND ANR.

Bench: MRS. JUSTICE LISA GILL,MRS. JUSTICE SUDEEPTI SHARMA

term investme nt appeals be dismissed. e have heard learned counsel for e question involved for consider ares purchased and held by the ap Polytex Ltd., constitute stock-in ases -5- he shares of M/s Vardhman Poly shares but purely as an investme ount of the interest paid on mon sessing Officer has given differ holding that sale of shares

M/S ROCKMAN CYCLES INDS. LTD. vs. COMMR. OF INCOME TAX, LDH. AND ANR.

The appeals are allowed and impugned orders are

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

gains of business or profession". Explanation 1.—For the removal of doubts, it is hereby declared that any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made