INCOME TAX OFFICER-3(4), KANPUR vs. SHRI SANTOSH KUMAR AGARWAL, KANPUR

In the result, the appeal of the Revenue is dismissed

Bench: Shri T. S. Kapoor

transferred to the Demat account of the buyer, itself proves the genuineness of the purchase/sale transaction of shares having regard to the relevant provisions contained in the Depository Act The transaction made through Demat account is in itself an evidence to prove the genuineness of share transaction. Merely because the sale of shares fetched a handsome price, which price

MAHESH MITTAL,LUCKNOW vs. ACIT, RANGE-5, LUCKNOW, LUCKNOW

In the result, the appeal of the assessee is partly allowed