2013 (3) TMI 650

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.... Mr. A.K.Saxena for the appellant Mr. Atul K. Jasani with Ashok Bhoghani for the respondent JUDGEMENT 1. In these appeals by the revenue for the assessment year 2004-05, identical common questions of law have been raised for our consideration:- (i) Whether in the facts and in the circumstances of the case and in law, the ITAT was right in holding that the wrong claim made by the asses....

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.... we see no reason to adjourn the matter. 3. Though we are hearing three matters together as the issue involved are identical, for the sake of convenience we refer to the facts as set out in Income Tax Appeal (Lod) No.51 of 2013. 4. In this case, the respondent-assessee had declared long term capital loss of Rs. 4.39 crores which were inclusive of loss incurred on the sale of US 64 units. The....

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....from the fact that the assessing officer gathered information about the carry forward loss and sale of units from return filed by the respondent-assessee. The Tribunal held that the from the aforesaid facts at the highest it can be said that the claim of the assessee was not sustainable in law but there was no furnishing of inaccurate particulars or concealment of income on the part of the respond....