2010 (2) TMI 74

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....not ? 2. Whether the judgement should be reported in the Digest? M. M. KUMAR, J. This is an assessee's appeal filed under Section 260A of the Income Tax Act, 1961 (for brevity 'the Act') challenging order dated 9.5.2007 passed by Income Tax Appellate Tribunal, Chandigarh Bench, Chandigarh (for brevity 'the Tribunal') in ITA No. 621/CHD/ 2005 in respect of the assessment year 2001-02. The petiti....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... been charged to tax as long term capital gain on the basis of statement made by the husband of the assessee Shri Kuldip Singh Ghai. The aforesaid statement was recorded by the Deputy Director Investigation, Ludhiana on 23.4.2001. The basis of the aforesaid finding is that the statement made by the husband of the assessee was never confronted to the assessee nor any show cause notice was issued to....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... no stage opportunity was claimed by the assessee asserting that the statement of her husband was not binding nor any doubt had arisen at any stage. The husband of the assessee has been dealing with the purchase and sale of property on behalf of his wife and the assessee herself is a share holder in the company known as Ghai Estate Developers Ltd. which is engaged in the business of sale and purc....