2013 (3) TMI 73

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....l :- S. K. Garg, Ashish Bansal   ORDER The present appeal has been filed under section 260 A of the Income Tax Act, 1961 (hereinafter referred to as the Act) against the order dated 23.02.2010 passed by the Income Tax Appellate Tribunal, Lucknow Bench, Lucknow. The Commissioner of Income Tax (Appeals) Kanpur had proposed the following questions said to be substantial questions of law ar....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n of income declaring the total income of Rs. 56,85,070/- including the long term capital gain of Rs. 51,84,961/-. During the course of the assessment proceedings, the Assessing Officer was of the opinion that the claim of long term capital gain was not admissible and, he therefore, disallowed the claim. The income from sale of shares on which long term capital gain was being claimed was treate....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d before the Commissioner of Income Tax (Appeals) were already on record before the Assessing Officer which he failed to consider and, therefore, it is not a case of filing of any additional evidence but appraisal of evidence, which was already on record and, therefore, the Commissioner of Income Tax (Appeals) had sufficient powers to go into. Before us, it has nowhere been stated that the said do....