2016 (3) TMI 502

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....hi ) These tax appeals were admitted for consideration of following common substantial questions of law : "TAX APPEAL NO.112 0f 2009 (ASSESSMENT YEAR 1996-97) (A) Whether the Appellate tribunal is right in law and on facts in holding that the reassessment order passed under Section147 was improper and required to be cancelled ? (B) Whether the Appellate Tribunal is right in law and on facts i....

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....ull value of sale consideration ? (C) Whether the Appellate Tribunal is right in law and on facts in directing the Assessing Officer to allow long term capital loss of Rs. 3,27,082/- ? (D) Whether the Appellate Tribunal is right in law and on facts in not appreciating that the investment made in shares are held by the assessee as stockintrade ?" This was on the basis that counsel for the Revenu....