In the result, all the appeals filed by the assessee are allowed and copy of common order passed is to be placed on respective case files
Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]
capital gain only after an explanation sought by Assessing Officer and it was not a case of suo-moto explanation, Assessing Officer liable to invoke penalty proceedings under section 271(1)(c). Similarly, the Hon'ble Delhi High Court in the case of CIT Vs Zoom Communication (P.) Ltd. reported in 191 Taxman 179 (Delhi)/ [2010] 327 ITR 510 (Delhi