MANISH DEVENDRAKUMAR SHAH,AHMEDABAD vs. THE ITO, WARD-5(3)(1), AHMEDABAD
The appeal of the assessee is allowed in full
ITA 918/AHD/2024[2014-15]Status: DisposedITAT Ahmedabad25 Feb 2025AY 2014-15
Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.918/Ahd/2024 िनधा"रण वष" /Assessment Year : 2014-15 Manish Devendrakumar Shah The Ito बनाम/ 206, 2Nd Floor, Kalash 1 Ward-5(3)(1) V/S. Navrangpura Ahmedabad Ahmedabad – 380 009 "थायी लेखा सं./Pan: Aqjps 4226 K (अपीलाथ"/ Appellant) ("" यथ"/ Respondent) Assessee By : Shri S.N. Divatia, Ar & Shri Samir Vora, Ar Revenue By : Shri Rignesh Das, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 20 /02/2025 घोषणा की तारीख /Date Of Pronouncement: 25/02/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:
For Appellant: Shri S.N. Divatia, AR &For Respondent: Shri Rignesh Das, Sr.DR
Section 10(38)Section 143(1)Section 147Section 250Section 68
deposits leading to share purchase, in the present case, all transactions were done through banking channels via account payee cheques and RTGS, and there was no cash involvement. In Swati Bajaj, shares were typically purchased through off-market transactions and then sold after price inflation.
In contrast, the assessee in the present case acquired shares through direct preferential allotment from