2009 (11) TMI 51

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....R: 1. This appeal has been preferred by revenue under Section 260A of the Income Tax Act, 1961 (for short, "the Act") against the order dated 25.3.2009 of the Income Tax Appellate Tribunal, Chandigarh Bench 'A' in I.T.A. No.763/Chd/2008 for the assessment year 1998-99, proposing to raise following substantial questions of law:- "(i) Whether in the facts and circumstances of the case, the ITAT wa....

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....Revenue, questioning the failure of CIT(A) to invoke the provisions of Section 114 of the Indian Evidence Act and in not applying the highest rate at which the impugned shares had been traded on that day." 2. The assessee made claim for business loss and speculation loss in the business of shares but the said claim was turned down by the Assessing Officer by making best judgment assessment, in ab....