2017 (10) TMI 1004

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....ER ( Per : Honourable Mr. Justice Akil 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 ca....

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.... loss arising out of the sale of shares can be offset 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 ....