TaxTMI 
TaxTMI 
2015 (5) TMI 460
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....CIT(A), dated 8-12-2011 for assessment year 2003-04, in the matter of order passed u/s.143(3) r.w.s 147 of the I.T. Act. 2. In the grounds of appeal, assessee is aggrieved for reopening of assessment u/s.147 as well as for merit of the addition made on account of income from undisclosed sources. 3. Rival contentions have been heard and record perused. There was a search undertaken in the case of....
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....RA Act, 1956. On the basis of the details obtained during the search by the investigation wing, it was noted that the assessee also had made sales and purchases of shares of M/s Buniyad Chemicals Ltd through M/s. Gold Star Finvest P.Ltd which had provided the accommodation entries. M/s Buniyad Chemicals Ltd as well as M/ s. Gold Star Finvest P.Ltd were floated by Mukesh Chokshi only. Since it was ....
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....ock Exchange & as a consequence of which, the assessee converted the entire physically held 15000 shares into a dematerialized form from 27th December 2001 through IL&FS Securities Services Limited. Subsequently assessee sold the entire 15,000 shares of the said company during 5th February 2003 to 26th February 2003 for a sale consideration totaling to Rs. 13,13,256/-. The Assessing Officer has ma....
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....t all the transactions carried out by his various companies were bogus and he only provides accommodation bills. 7. Learned AR also placed reliance in the case of Shri Anantrai B Shah vs. ITO 21(1)(1), Mumbai vide IT Appeal No. 1842 of 2012, order dated 14/12/2012, wherein it was held that Shri Mukesh Choksi has issued a general statement, however the statement was not provided by the assessee, t....