ACIT (CENTRAL)-1 INDORE, INDORE vs. ESSENCE COMMODITIES (P) LTD., INDORE
In the result all the appeals of revenue for A
ITA 675/IND/2019[2011-12]Status: DisposedITAT Indore10 Feb 2023AY 2011-12
Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani
For Appellant: Shri Shreya JainFor Respondent: Shri P.K Mishra, CIT (DR)
reassessment
proceedings made detailed enquiry and established beyond
doubt that the losses obtained by assessee on NMCE
platform were contrived losses and these losses were
incurred by executing the synchronized trade dealings in
illiquid commodities. The Ld. CIT(DR) also submitted that Cross Objection No.17/Ind/2020
Cross Objection Nos.04 & 09/Ind/2021
Essence Commodities Pvt. Ltd.,
the losses were incurred with a specific
