2013 (7) TMI 966

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....een preferred by the assessee against the order dated 15-1-2013 of CIT(A)-11, Mumbai relating to the assessment year 2003-04. 2. Grounds No.1 & 2 are not pressed, therefore, they are dismissed as not pressed. 3. Grounds No.3 to 5 relate to upholding the order of the AO treating the long term capital gain disclosed on the sale of shares of Buniyad Chemicals Ltd. as unexplained income and sust....

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....ies so provided included speculation profit or loss, shot term capital gain or loss, long term capital gain or loss etc. Shri Mukesh Chokshi has provided accommodation in issuing bogus bills in the name of various entities including M/s Gold Star Finvest Pvt. Ltd. for commission. The modus operandi adopted by Shri Mukesh Chokshi is also explained in the order of the AO. After considering the modus....

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....der dated 24-2-2010. It was further stated that the decision of the Tribunal has also been confirmed by the Hon'ble High Court. Copy of the order has also been placed in the compilation also. It was further explained that in this case also the shares were purchased of M/s Buniyad Chemicals Ltd., through Mr. Mukesh Chokshi. After analyzing the cases in detail, the Tribunal has held that the transac....

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....r considering the submission and perusing the material on record, I found that in case of Shri Ravindrakumar Toshwniwal (supra) and in case of Mukesh R. Marolia, decided in ITA No.456/2007, vide order dated 7-9-2011, the shares for Marolia were purchased through M/s Gold Star Finvest Ltd. and after considering the statement of Mr. Chokshi, the Benches held that the transactions done by the assesse....