ASSISTANT COMMISSIONER OF INCOME TAX, DELHI vs. ADROIT FINANCIAL SERVICES PVT. LTD, DELHI
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Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI
PER NAVEEN CHANDRA, ACCOUNTANT MEMBER :
This captioned appeal has been filed by the learned CIT(A)-NFAC, Delhi order dated 28.03.2025 arising from the assessment order under section 147 read with section 144B of the Income tax Act, 1961, dated 20.03.2024, for the A.Y. 2016-17. 2. Brief facts of the case are that the assessee is a private limited company, had filed return of income showing Income of [A.Y 2016-17] Rs.2,56,70,763/-. On the basis of the Directorate of Income Tax (Inv.), Mumbai report regarding misuse of the stock market platform for generating manipulative trades in derivative segment for providing bogus loss and
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