https://www.taxtmi.com/caselaws?id=464584 The AT held that the impugned order's findings were partly correct and partly incorrect, finding insufficient cogent evidence of concerted trading among the appellants and requiring individual culpability to be established. It noted unexplained discrepancies in profit computation and that proportionality of the consolidated penalty was not adequately addressed. The Tribunal quashed and set aside the impugned order and remitted the matter to the adjudicating officer for fresh adjudication, permitting appellants to file fresh replies to the show cause notice. Appeals disposed of. en-us Mon, 15 Feb 2016 00:00:00 +0530 Wed, 05 Nov 2025 13:39:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464584 The AT held that the impugned order's findings were partly correct and partly incorrect, finding insufficient cogent evidence of concerted trading among the appellants and requiring individual culpability to be established. It noted unexplained discrepancies in profit computation and that proportionality of the consolidated penalty was not adequately addressed. The Tribunal quashed and set aside the impugned order and remitted the matter to the adjudicating officer for fresh adjudication, permitting appellants to file fresh replies to the show cause notice. Appeals disposed of. Case-Laws SEBI Mon, 15 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464584