SHAILY PRINCE GOYAL,MUMBAI vs. INCOME TAX OFFICER-27(3)(1), NAVI MUMBAI

In the result, the appeal of the assessee Shri Yogesh Popatlal Thakkar in ITA No

54E of the Income Tax Act, 1961 was claimed. 4 The Assessing Officer has held that neither the purchase nor sale of shares were genuine and that the amount of Rs.1,41,08,484/- stated to have been received by the Assessee on sale of shares was undisclosed income and accordingly made addition under section 69 of the Income

ASST CIT 25(2), MUMBAI vs. PRATIKSHA SHAH, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

purchased by the assessee in course of making investment. Therefore, it is not possible to take any adverse view on the basis of mere suspicion that SEBI had initiated some action and found the brokers violating the rules of SEBI The CIT(A) is further correct in holding that notwithstanding the observations of the AO that the purchases

ACIT 25(2), MUMBAI vs. PRATIKSHA B SHAH, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhan

purchased by the assessee in course of making investment. Therefore, it is not possible to take any adverse view on the basis of mere suspicion that SEBI had initiated some action and found the brokers violating the rules of SEBI The CIT(A) is further correct in holding that notwithstanding the observations of the AO that the purchases

DCIT ,CC- 3 (3), MUMBAI vs. WELSPUN MERCANTILE LTD., MUMBAI

In the result, we see no merit in this Appeal and the same is dismissed with no\norder as to costs

bogus long\nterm capital gains through stock exchange mechanism and SESL is one\nof such scrips mentioned in the aforesaid letter. In view of this, it was\nalleged as follows:-\n“a. With regard to Noticee No. 1 to 8, it was alleged that these Noticees themselves\n(along with other connected Noticees) indulged in manipulation of the price

WELSPUN MERCANTILE LTD.(NOW MERGED WITH M/S. MGN AGRO PROPERTIES PVT. LTD.),MUMBAI vs. DCIT - 8 (3)(2), MUMBAI

In the result, we see no merit in this Appeal and the same is dismissed with no\norder as to costs

bogus long\nterm capital gains through stock exchange mechanism and SESL is one\nof such scrips mentioned in the aforesaid letter. In view of this, it was\nalleged as follows:-\n“a. With regard to Noticee No. 1 to 8, it was alleged that these Noticees themselves\n(along with other connected Noticees) indulged in manipulation of the price

DY.C.I.T. CENT. CIR-6(2), MUMBAI vs. SHRI DILIP B.JIWRAJKA, MUMBAI

In the result, the Cross Objections for AYs 2012-13 & 2013-14

purchased at Rs.205/- per share (Rs.10/- face value and a premium of Rs.195/-). The purchase price was paid by the appellant through banking channels. These shares were credited in the demat account on 10.01.2012. Subsequently, bonus shares were issued in the ratio of 19:1 on 30.03.2012. After that the shares held by the appellant stood