The Commissioner of Income Tax - VI vs. M/s. Manikanta Iron AND Hardware

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

gain. 8.5. The   assessee,   being   aggrieved   and  dissatisfied with the assessment order, filed  Page 5 of 41 C/TAXAP/194/2008 JUDGMENT an appeal before the CIT (A) contending that  the entire loss has wrongly been denied to be  set   off   against   the   other   incomes   of   the  assessee.   The   assessee   made   several  submissions before the CIT (A). The CIT (A)  thereafter  allowed

Principal Commissioner of Income Tax vs. Sri Nama Nageshwar Rao

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

purchased shares of an unlisted private company in 2010. This unlisted company then merged with another unlisted company, M/s Focus Industrial Resources Ltd. and shares of this merged entity were allotted to the Assessee. Subsequently, the merged entity allotted further bonus shares to the Assessee and thereafter it was listed on the Bombay Stock Exchange. Assessee sold these shares

AVANTI FEEDS LTD., vs. COMMISSIONER OF INCOMETAX

The appeal is dismissed, and the stay petition

Bench: P.SAM KOSHY,SUDDALA CHALAPATHI RAO

purchase and sale 2 of penny stocks i.e. BLUE CIRCLE & CCL INTERNATIONAL featuring in the list of ‘Bogus Capital Loss Claims’ information data provided by the Directorate of Investigation, Kolkata? ii. Whether, on the facts and circumstances of the case, the Learned Tribunal was justified in law in allowing the appeal of the assessee and deleting the disallowance

The Commissioner of Income Tax -III vs. Sri T.C. Reddy

The appeal stands dismissed

capital of the company. This fact was brought to the notice of the assessee vide order sheet entry dated 29.12.2009. No satisfactory reply has been filed. It is therefore, disallowed from the revenue expenses claimed by the assessee. Penalty proceedings u/s271(1)(c) r.w 274 of the Income-tax Act for concealment and furnishing of inaccurate particulars are initiated separately