ABHISHEK ASHOK LOHADE,,NASHIK vs. INCOME-TAX OFFICER, WARD - 1(5),, NASHIK
In the result, the appeal filed by the assessee stands dismissed
ITA 816/PUN/2018[2014-15]Status: DisposedITAT Pune22 Nov 2022AY 2014-15
Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.816/Pun/2018 िनधा"रण वष" / Assessment Year : 2014-15 Abhishek Ashok Lohade, Vs. Ito, Ward-1(5), Nashik. 15, Subharda Hsg. Soc., Opp. Circle Cinema, Ashok Stambh, Nashik-422001. Pan : Acepl6296R Appellant Respondent Assessee By : None Revenue By : Shri Ramnath P Murkunde Date Of Hearing : 14.11.2022 Date Of Pronouncement : 22.11.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-1, Nashik [‘The Cit(A)’] Dated 21.03.2018 For The Assessment Year 2014-15. 2. Briefly, The Facts Of The Case Are That The Appellant Is An Individual Deriving Income From The Execution Of Contracts Etc. The Return Of Income For The Assessment Year 2014-15 Was Filed On 31.03.2015 Disclosing Total Income Of Rs.3,13,680/-. Against The Said Return Of Income, The Assessment Was Completed By The Income Tax Officer, Ward-1(5), Nashik (‘The Assessing Officer’) Vide Order Dated 28.12.2016 Passed U/S 143(3) Of The Income Tax Act, 1961
For Appellant: NoneFor Respondent: Shri Ramnath P Murkunde
Section 10(38)Section 143(3)
171/- by holding that the transactions of purchase of shares of SRK Industries Ltd. and subsequent sale is nothing but a bogus transaction by relying upon the investigation report by the Investigation Wing of the Department and the Securities & Exchange Board of India (SEBI).
The Assessing Officer had also analyzed the modus operandi adopted by the appellant
