2015 (6) TMI 972

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....appeals filed by the respective assessee in all the common issue, therefore, all the appeals are disposed of by this common order. 2. Ground No.2 not pressed in all the three appeals, hence, dismissed as not pressed. Ground No.1 is general in nature do not require any adjudication. 3. The only common issue involved in Grounds No.3 & 4 which are common in all the three appeals relate to the addit....

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..... The pages No. 7 to 10 of the loose paper bunch marked as NKS/3 revealed that certain persons including the assessee had laundered their unaccounted money in the guise of Long Term Capital Gains (LTCG for short) on sale of penny stocks of unknown companies. From the seized documents, it was observed that Shri Shyamsukha had helped including the assessee in converting their cash into cheque by way....

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....pt name, quantity purchase and amount, sale amount and profit on sale. The AO was of the opinion that the name of all three assessee appeared on these papers when enquired of the assessee, the assessee stated that he did not know by the person of Sri Narendra Shyamsukha, the broker, through whom transaction of purchase and sale was conducted the knowing Sri Narendra Shyamsukha but the AO was of th....

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....shares were sold by receiving of the account payee cheque through the broker Ahilya Commercial Pvt. Ltd. It is not the case that the shares were bought or sold through cash. The statement of Broker CMFL was also recorded but he denied that he knows Shri Narendra Kumar Shyamsukha. The presumption available u/s.292C of the Act relied on by the Ld. DR are available against the person in whose possess....