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2011 (2) TMI 513 - HC - Income TaxAddition on account of purchase and sale of shares - Exemption u/s 54F - Allegation of receiving cash payment in lieu of cheques issued - Reference u/s 131(1) - Capital gain - CIT(A) and ITAT deleted teh addition - Exemption u/s 54F - Held that:- Since it is not clear whether evidence has been earlier furnished by the assessee, there being no finding with reference to such evidence, the view taken by the CIT(A) as upheld by the Tribunal has to be held to be vitiated As regards additions on account of unexplained construction of new house based on valuation as per report of the DVO, there has been an amendment by way of insertion of Section 142A vide Finance Act, 2004 with effect from 15.11.1972 - Decided against the assessee by way of remand
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