TMI Blog2015 (11) TMI 1137X X X X Extracts X X X X X X X X Extracts X X X X ..... torola India Ltd. [2007 (10) TMI 384 - PUNJAB & HARYANA HIGH COURT] - ITA No. 182 of 2015 (O&M) - - - Dated:- 14-10-2015 - MR. AJAY KUMAR MITTAL. AND MR. RAMENDRA JAIN, JJ. For The Appellant : Mr. Rajesh Sethi, Senior Standing Counsel with Mr. Arun Biriwal, Advocate and Ms. Pridhi Jaswinder Sandhu, Advocate AJAY KUMAR MITTAL, J. 1. This order shall dispose of two appeals bearing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n it is seen that the correct and legal view point of the A.O. and CIT(A) holding that the assessee was an adventure of nature of trade, has been reversed without there being any sustainable material for the same? (ii) Whether in the facts and circumstances of the case in hand, the view point of ITAT holding that the assessee's gains were profits from sale of specified agricultural land whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kamdhenu Group of cases including M/s Marigold Merchandise Pvt. Ltd. (the assessee herein). A notice dated 9.3.2010 under Section 153A of the Act was issued to the assessee who filed its return on 30.3.2010 for the assessment year 2007-08 declaring nil income and current loss at ₹ 2,73,866/-. Thereafter, notice dated 20.5.2010 under Sections 143(2) and 142(1) of the Act along with questionn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment years, i.e. 2007-08 and 2008-09. Hence, the present appeals by the revenue. 5. We have heard learned counsel for the revenue. 6. The issue that arises for consideration is that when the Assessing Officer who passed the assessment order was based at Alwar and the first appeals were adjudicated by the CIT(A), Central Jaipur and the second appeals were adjudicated by the Tribunal at ..... X X X X Extracts X X X X X X X X Extracts X X X X
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