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2016 (7) TMI 95 - ITAT KOLKATA

2016 (7) TMI 95 - ITAT KOLKATA - TMI - 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 Learned AO with regard to the disclosure of LTCG by the assessee from the electronically filed return of income. Accordingly, in the facts and circumstances, we deem it fit and appropriate in the interest of just .....

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h, AM For the Appellant: S/shri S. Jhajharia, 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. Intimation u/s. 143(1) of the Income tax Act, 1961 (hereinafter referred to as the Act ) was issued by ACIT, Cir-45 (Admn) vide dated 07.02.2011. 2. The assessee has raised following grounds: 1. For that in view .....

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77; 1 ,44,23,343/-, both the assessed and 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 view of the facts and circumstances of the case the Ld. CITCA) was wholly wrong and unjustified in confirming the A.O's action in the consequential enhancement of the total income in the said Intimation U/S 1 .....

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