PR. COMMISSIONER OF INCOME TAX vs. M/S HARI NARAIN PARWAL

Bench: AVNEESH JHINGAN,SHUBHA MEHTA

gain Rs. 97,02,942/- and long term capital loss Rs. 350,31,73,044/- was claimed as exempt. 7. During the assessment proceedings, it was noticed that the assessee had claimed advances written off under the head “other expenses” in the P & L and loss from business was primarily due to this. 8. Assessment Order under Section