https://www.taxtmi.com/caselaws?id=464684 The AT dismissed the appeal and upheld a Rs.3 lakh penalty under s.15HA for manipulation of price and volume in violation of SEBI PFUTP Regulations. The tribunal held that in collective market-manipulation cases individual roles need not be exhaustively detailed, and a minor contribution does not negate liability. The AO's imposition of a modest penalty-far below the statutory maximum-after accounting for mitigating factors (including possible losses) was reasonable, so the appeal failed. en-us Tue, 20 Aug 2019 00:00:00 +0530 Mon, 10 Nov 2025 19:08:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464684 The AT dismissed the appeal and upheld a Rs.3 lakh penalty under s.15HA for manipulation of price and volume in violation of SEBI PFUTP Regulations. The tribunal held that in collective market-manipulation cases individual roles need not be exhaustively detailed, and a minor contribution does not negate liability. The AO's imposition of a modest penalty-far below the statutory maximum-after accounting for mitigating factors (including possible losses) was reasonable, so the appeal failed. Case-Laws SEBI Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464684