PARVATHANENI RAMAKRISHNA ,VIJAYAWADA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1),, VIJAYAWADA

In the result, appeal filed by the assessee is dismissed

Bench: Shri V. Durga Rao, Hon’Bleparvathaneni Ramakrishna, Vs. Dcit, Circle-2(1), D.No. 54-20-9/5, Flat No.6, Vijayawada. Deepika Apartment, Srinagar Colony, Vijayawada. Pan No. Aiypp 4347 F (Appellant) (Respondent)

capital gains. The ld. CIT(A) by following the judgment of the Hon'ble Supreme Court in the case of G.Venkataswamy Naidu & Co. Vs. CIT [(1959) 35 ITR 594] came to a conclusion that what is the intention of the assessee has to be seen to decide whether transaction is ‘adventure in the nature of trade

VISAKHAPATNAM PORT AUTHORITY,,VISAKHAPATNAM vs. THE ACIT, CIRCLE - 1(1),, VISAKHAPATNAM

In the result, CO raised by the assessee is disposed off as discussed herein above