2016 (3) TMI 1366

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..... proceeds of the shares should be brought to tax net in A.Y 2007-08 and not in A.Y 2001-02. To rectify the mistake apparent from the record, we direct the AO to verify the order passed by him for A.Y 2007-08 to ensure that there is an addition on account of sale of shares of Tripex Overseas Ltd. and if he finds that the sale proceeds of shares of Tripex Overseas Ltd. had already been taxed in A.Y .....

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..... shares of Tripex Overseas Ltd. was considered in A.Y 2007-08, therefore, the Tribunal has wrongly confirmed the addition in A.Y 2001-02 while deciding the appeal No. 5539/Mum/2012. MA Nos. 212 213/Mum/2015 3. We have considered the rival contentions and carefully gone through the order of the Tribunal as well as the other materials placed before us. It appears that Tripe .....

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..... 01-02 (ITA No. 7526/Mum/2013) are pari materia to the facts in A.Y 2001-02 (ITA No. 5539/Mum/2012), following the same reasoning given hereinabove, we direct the AO to verify the assessment records for A.Y 2007-08 and decide accordingly. 6. In the result, both the Miscellaneous applications filed by the assessee are allowed in part for statistical purposes. Order pronounced .....

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