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TMI Blog2019 (4) TMI 210X X X X Extracts X X X X X X X X Extracts X X X X ..... lowed and therefore we confirm the findings of ld CIT(A). We note that so far of long term capital loss arising from sale of 20,56,850 shares of JP Morgan, it is an admitted fact that the company failed to furnish any details. The failure to furnish such details may result in disallowance of Long term capital loss of ₹ 6,52,950/- relating to acquisition and sale of shares of JP Morgan shares only. The loss arises from the sale of 20,56,850 shares of JP Morgan wherein the assessee failed to furnish any details are not allowed and balance loss is allowed. Hence, A.O. is directed to delete the addition accordingly and balance loss of ₹ 6,52,950/- is confirmed. That being so, we decline to interfere with the order of Id. C.I T.( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 05.03.2014. 2. Ground No. 1 raised by the Revenue reads as under: i. Whether on the facts and in the circumstances of the case, the ld. CIT(A) has erred in law in allowing Loss of ₹ 81,90,769/- resulting from sale of shares of Tatia Skylines Health Forms Ltd. and J.P. Morgan and also erred in appreciating the facts relying on extraneous and irrelevant considerations. 3. Brief facts qua the issue are that the assessee has claimed ₹ 88,43,720/- as long term capital loss. It was found that during the previous year the assessee sold shares of Tatia Skylines Health Farms Ltd. and JP Morgan for consideration as follows: Name of the Script Purchase price claimed D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nge therefore AO concluded that the claim of loss in share transaction is not being substantiated by assessee. Hence, the long term capital loss as have been claimed by the assessee against both the scripts, as discussed above, is denied by assessing officer and not allowed to be carried forward. 4. Aggrieved by the stand so taken by the AO, the assessee carried the matter in appeal before the Ld. CIT(A) who has deleted the addition. Aggrieved, the Revenue is in appeal before us. 5. We have heard both the parties perused the material available on record, we note that this ground of Revenue relates to disallowance of loss incurred under the head Long Term Capital Gains of ₹ 88,43,720/- arising from sale of unquoted shares of Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat so far of long term capital loss of ₹ 6,52,950/- arising from sale of 20,56,850 shares of JP Morgan, it is an admitted fact that the company failed to furnish any details. The failure to furnish such details may result in disallowance of Long term capital loss of ₹ 6,52,950/- relating to acquisition and sale of shares of JP Morgan shares only. Keeping in view of above, the loss arises from the sale of 20,56,850 shares of JP Morgan wherein the assesseefailed to furnish any details are not allowed and balance loss is allowed. Hence, A.O. is directed to delete the addition accordingly and balanceloss of ₹ 6,52,950/- is confirmed.That being so, we decline to interfere with the order of Id. C.I T.(A) in deleting the aforesa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d given contract for dyeing its products to Tassar Dyeing Finishing Works , Bhagalpur. The fact was evidenced from the vouchers of Raman Scientific Agencies, Sandeep Kumar and Manish Dyes and chemicals. Having given contract to Tassar Dyeing Finishing Works , Bhagalpur, for the necessary dyeing, the assessee was liable to deduct tax at source u/s 194C of the Act. But the assessee had failed to deduct tax at source, hence the entire amount of ₹ 2,79,962/-was disallowed and added to the total income of the assessee. 8. Aggrieved by the stand so taken by the Assessing Officer, the assessee carried the matter in appeal before the ld CIT(A), who has deleted the addition made by the Assessing Officer. Aggrieved, the Revenue is in a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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