DEEPAK VALJI KARIA,MUMBAI vs. ITO - 28(1)(3), MUMBAI
In the result, appeal filed by the assessee is allowed
ITA 259/MUM/2021[2015-16]Status: DisposedITAT Mumbai10 Mar 2022AY 2015-16
Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Bleshri Deepak Valji Karia V. Income Tax Officer – 28(1)(3) Flat No. 2501, B Wing Room No. 327 Maroj Palm Paradise Tower No. 6, 3Rd Floor Palm Beach Road, Sector 17 Vashi Railway Station Building Complex Vashi, Navi Mumbai-400703 Sanpada, Navi Mumbai 400705 Pan: Ahfpk2679F (Appellant) (Respondent) Assessee By : Ms. Dinkle Hariya Department By Shri Sanjeev Kashyp
For Appellant: Ms. Dinkle Hariya
Section 10(38)Section 131Section 143(2)Section 143(3)
aa)
The earning per share and profits for the relevant period were negligible and in contrast with the price rise of the share of the company which were unusually high.
(bb)
The investigations carried out by various investigation directorate had revealed that in the accounts of the entry providers, the cash had been routed from various accounts to provide accommodations
