Booking advance cannot be equated with the capital asset and therefore section 55C cannot be invokedIn the instant case, the deduction on account of fees paid for PMS had been claimed by the assessee as deduction in computing capital gains arising from sale of shares and securities. At any rate, the identities of the alleged share applicants could not be established and the documents of the alleged share applicants carried by the assessee before the Assessing Officer did not reveal the investments that the assessee claimed such alleged applicants had made in the assessee , it has proved on record that the sanction is merely mechanical and Addl.
If the capital asset under transfer cannot be described as land or building or both then section 55C will cease to apply. CIT has not applied independent mind while according sanction as there is not an iota of material on record as to what documents he had perused and what were the reasons for his being satisfied to accord the sanction to initiate the reopening of assessment u/s 698 of the ActIt is essential that for application of Sec. In the present case, there was no plausible explanation that was furnished by the assessee. 55C that the transfer must be of a capital asset, being land or building or both. Apparently, from the approval recorded and words used that Yes. =) grazieeeesiete mitici grazie di tutto, io ho molto contribuito nel mondo dello share in varie ex realta del web da bt-italia, bt-share, area56 e lakadia quindi sono lo sforzo e il lavoro che c è dietro a tutto questo quindi GRAZIE DI CUORECiao, vorrei sapere se potete inserire la serie Paso Adelante? He however had failed to explain as to how the said fees could be considered as cost of acquisition of the shares and securities or the cost of any improvement thereto. Where facts and law in a subsequent assessment year are the same, no authority whether quasijudicial or judicial can generally be permitted to take a different viewThe appellant-assessee has referred to a judgment of this Court reported at 669 ITR 689 for the proposition that upon the identity of the person who has put in the money being established by the assessee, the onus is on the Revenue to discredit the explanation offered in terms of Section 68 of the Act. I am satisfied. Salve, potete mettere la serie Amico mio con Massimo Dapporto? Mi piacerebbe essere utile: ho la serie quantum leap, ma non so come darvela per piazzarla in reteCiao potresti aggiungere tra le serie VELVET? He had also failed to explain as to how the said fees could be treated as expenditure incurred wholly and exclusively in connection with sale of shares and securities.