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Late Satyabhama Salarpuria (Rep. L/H Shri Ram Prasad Salarpuria) Versus Assistant Commissioner of Income-tax

2016 (7) TMI 95 - ITAT KOLKATA

LTCG computation - AO enhancing the income under the head" Long Term Capital Gain" earned during the year in the Intimation U/S 143(1) - Held that:- We find that both the Learned AR and Learned DR fairly agreed for ascertaining of real facts by the L .....

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ue to the file of the Ld. AO to have a revisit on the impugned issue afresh, by verification of the figures of LTCG in the return vis a vis the workings of the assessee and dispose the issue in accordance with law. Needless to mention that, the asses .....

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haria, AR & Sujoy Sen, AR For the Respondent: Md. Ghayasuddin Ansari, CIT, DR ORDER Per Shri Balaganesh, AM This appeal by assessee is arising out of order of CIT(A)-XXXVI, Kolkata vide Appeal No. 634/CIT(A)-XXXVI/Kol/10-11/690 dated 26.07.2013. .....

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case the Ld. CIT(A) was wholly wrong and unjustified in confirming the A.O's action in enhancing the income under the head" Long Term Capital Gain" earned during the year under appeal i.e A.Y 2009-10 in the Intimation U/S 143(1) of the .....

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nd returned figures of L.T.C.G are prior to setting off B/F long term capital loss of ₹ 87,656/- for the preceding A. Y 2008-09 ). The actions of the A.O and the Ld. CIT(A) were wholly unreasonable, uncalled for and bad in law. 2. For that in v .....

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050/- without assigning any reason for making such enhancement by the A.O and confirmation of the same in appeal ( assessed total income ₹ 2,23,42,890/- Less returned total income ₹ 2,03,45,840/- ). The actions of the A.O and the Ld. CIT( .....

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tal Gains (LTCG) of ₹ 1,44,23,343/-. The assessee computed LTCG which is annexed to this order as separate sheet. 4. The assessment was completed u/s. 143(1) of the Act by the Ld. AO at ₹ 2,23,42,890/- which included LTCG of ₹ 1,63, .....

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oduced the e-filed return of the assessee in his order and mentioned the LTCG figure at ₹ 1,64,20,396/- and upheld the intimation u/s. 143(1) of the Act to be correct. Aggrieved, assessee is in appeal before us. The Ld. AR filed the full set of .....

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