TMI Blog2014 (7) TMI 80X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeals) is Mr. Dhananjay Sharma, Chartered Accountant, whereas in the body of the order, he has mentioned the name of one Mr. Ramakant Sharma, had appeared and explained the case - Commissioner (Appeals) had rejected the adjournment and proceeded to decide the case on merit after noting the presence of Mr. Ramakant Sharma, who was not well versed with the facts of the case - the assessee has given ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... grounds: On the facts and in the circumstances of the case and in law the learned CIT(A) erred in treating long term capital gain on sale of equity share of ₹ 14,78,625, as unexplained cash credit u/s 68. 2. At the outset, the learned Counsel for the assessee submitted that the learned Commissioner (Appeals) has passed the order without giving sufficient opportunity of hearing to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been filed vide letter dated 9th June 2014. 3. The main issue involved in this case is whether the transactions of purchase and sale of shares can be treated as non genuine and the claim of long term capital gain on sale of shares can be treated as bogus. The learned Commissioner (Appeals) has decided the issue without even considering the facts of the assessee s case and has gone by various ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch has been noted in the order of the learned Commissioner (Appeals) is Mr. Dhananjay Sharma, Chartered Accountant, whereas in the body of the order, he has mentioned the name of one Mr. Ramakant Sharma, had appeared and explained the case. Mr. Ramakant Sharma, was the Accountant in the office of Mr. Dhananjay Sharma, and had only appeared before the learned Commissioner (Appeals) for seeking adjo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e file of the learned Commissioner (Appeals), who shall admit the additional evidences which have been filed before us and then decide the issue in accordance with the facts, material placed on record and in accordance with the provisions of law after providing due and effective opportunity of hearing to the assessee. Thus, the ground raised by the assessee is treated as allowed for statistical pu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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