The Commissioner of Income Tax -III vs. Sri T.C. Reddy
The appeal stands dismissed
ITTA/577/2011HC Telangana28 Feb 2012
purchase of shares. Only Nil income has
been shown and a loss of Rs.12,218.73 is
reflected in the P& L a/c. Audit report & ITR-V of
M/s. Mrigiya Electronics Industries P Ltd. is
annexed with this order as Annexure-A.”
4.1. Taking into consideration the above factual position the AO
held as under:-
16. The assessee has claimed expenditure
