2017 (10) TMI 1004

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.... Kureshi ) 1. The Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal dated 7.11.2016 raising the following question for our consideration : "Whether the ITAT has erred in law and on facts in confirming the order of CIT(A) deleting the addition of Rs. 3,85,28,505/made by the Assessing Officer on account of long term capital loss on sale of shares of M.H. Mills and Ind....

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....t against the gain on sale of land. The assessee had thus chalked out a plan to evade tax. 3. The CIT(Appeals) having deleted the additions, the Revenue went into appeal before the Tribunal. The Tribunal by the impugned judgment confirmed the view holding that there was no dispute about the genuineness of the transactions or the sale price of the shares. That being the position, merely because th....