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TMI Blog2021 (1) TMI 212X X X X Extracts X X X X X X X X Extracts X X X X ..... R. Makwana, Sr. DR ORDER PER Ms. MADHUMITA ROY - JM The instant appeal filed by the assessee is directed against the order dated 24.10.2017 passed by the Commissioner of Income Tax (Appeals) -8, Ahmedabad arising out of the order dated 25.1.2016 passed by the DCIT, Circle-4(2)(1), Ahmedabad under Section 143(3) of the Income Tax Act, 1961 (hereinafter referred as to 'the Act') for Assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facturing of dye intermediate and chemicals. In Dubai they attended the Beauty World expo. In U.S.A. they attended a meeting and discussed business proposal at trade fare. In Thailand they attended meeting of YPO Chapter Retreat. All the relevant documents in support of such tours indicating the business purposes of the assessee company were duly submitted before the authorities below as it appear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ge 67 of the Paper Book filed before us. The investment and/or advances of its subsidiary companies had been considered for business purposes; the commercial expediency involved in the said transactions were also observed by the Ld. CIT(A). The Ld. AR drew our attention to the order passed by the Ld. Commissioner Appeal for A.Y. 2012-13 appearing at Page 80 and 81 of the Paper Book filed before us ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ered in favour of the assessee from A.Y. 2003-04 to 2012-13 which is also evident from the order passed by the Ld. CIT(A) at Page 18 and 19. 5. The Ld. DR failed to controvert such submission made by the Ld. AR. Keeping in view the identical facts and in view of the rule of consistency we find no reason in disallowing such sale of Mutual Funds to the tune of Rs. 24,93,962/- as STCG and hence we d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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