Just a moment...

Report
ReportReport
Welcome to TaxTMI

We're migrating from taxmanagementindia.com to taxtmi.com and wish to make this transition convenient for you. We welcome your feedback and suggestions. Please report any errors you encounter so we can address them promptly.

Bars
Logo TaxTMI
>
×

By creating an account you can:

Report an Error
Type of Error :
Please tell us about the error :
Min 15 characters0/2000
TMI Blog
Home /

2013 (8) TMI 1153

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ee is directed against the order of the ld. CIT(A, Kota dated 26-12-2012 for the assessment year 2007-08 wherein the assessee has raised following grounds. "1. The impugned additions and disallowances made in the order u/s 143(3) of the Act dated 26-12-2012 are bad in law and on facts of the case, for want of jurisdiction and various other reasons and hence the same kindly be deleted. 2. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....visions of law and facts, kindly be deleted in full. 4. The appellant prays your honours indulgence to add, amend or alter all or any of the grounds of appeal on or before the date of hearing. 2.1 At the outset, the ld. Counsel for the assessee submitted that he does not want to press Ground No. 1. In view of the submissions of the ld. Counsel for the assessee, the Ground No. 1 of the assessee ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ared as STCG be directed to assessed as such.'' 5.2 Briefly, the facts stated are that the case of the assessee was picked up for scrutiny assessment and the assessment u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ''Act") was framed vide order dated 30-09-2009 whereby the AO made various disallowances including the claim of the assessee in respect of the transaction in shar....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... contentions, the ld. Counsel for the assessee relied upon following case laws:- (a) CIT vs. Gopal Purohit, 228 CTR 582 (Bom.) (b) ITO vs. Rohit Anand, 127 TTJ 122 (Del.) (c) Bharat Kunverji Kenia vs. Addl. CIT , 130 TTJ 86 (Mum) 5.4 On the other hand, the ld. DR supported the orders of the authorities below. 5.5 We have heard the rival submissions, perused the materials available on recor....