COMMISSIONER OF INCOME TAX SALEM Vs. N CHANDRAMOULIDEVI

JUDGEMENT

(1.) THE Tax Case Appeals are filed by the Revenue against the orders of the Income Tax Appellate Tribunal relating to assessees viz., N.Chandramoulidevi, V.Hemalatha and N.Venkatesan.

(2.) THE following substantial question of law is raised in T.C.Nos.463 and 464/2005:-

(3.) AS against the assessment made, the respective assessee filed appeals before the Income Tax Appellate Tribunal. Based on the orders passed in the case of Shri.N.Nandakumar, Shri Soora Nagarajan, Shri N.Venkatesan, Smt.N.Vimala, the Tribunal allowed the appeals and set aside the order of the ASsessing Officer by giving direction to the ASsessing Officer to allow the assessees' claim for long term and short term capital loss arising from the sale of shares, which had taken place during the block period ending 09.11.1995 and compute the total undisclosed income of the assessees. Aggrieved by the said direction, the Revenue is on appeal before this Court raising the above questions of law.