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Judgment Search Results Home > Cases Phrase: mediation Sorted by: old Court: income tax appellate tribunal itat west bengal Year: 2003 Page 1 of about 1 results (0.086 seconds)

Jan 16 2003 (TRI)

Veena Kanoria Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jan-16-2003

Reported in : (2003)79TTJCal746

1. this appeal has been filed by the revenue and there are eight grounds of appeal as follows : (i) for that learned cit(a) was wrong in holding that excess of sale proceeds over purchase price or adjusted purchase price of shares was taxable capital gains under section 45 of the it act, 1961. (ii) "for that learned cit(a) was wrong in holding that sale of bonus shares resulted into taxable capital gains under section 45 of the it act." (iii) "for that learned cit(a) was wrong in confirming disallowance of service charges of rs. 1,58,600." (iv) "for that learned cit(a) was wrong in confirming disallowance of travelling expenses of rs, 55,044." (v) "for that learned cit(a) was wrong in confirming levy of interest under ss. 234a, 234b and 234c of the it act." (vi) "for that learned cit(a) was wrong in not admitting additional grounds and confirming the assessment order and demand notice which were not in accordance with the law." (vii) "for that learned ao may be directed to allow refund of tax paid with interest thereon." (viii) "for that the appellant seeks kind permission to raise new contention and grounds of appeal." 2. so far as the first and second grounds of appeal are concerned, the learned authorised representative emphatically stated that in order to attract capital gains, the precondition is cost of acquisition and cost of improvement. in order to substantiate his case, he cited certain case laws in favour of the same which are analysed here as under one by one : .....

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