2017 (10) TMI 66

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....ned Senior Counsel for the petitioner and the learned Standing Counsel for the Revenue. 2. By this application, the respondent in I.T.A. No.195 of 2014 is seeking review of the judgment dated 19.08.2015 whereby the questions of law framed for consideration of this Court was answered in favour of the Revenue and the order of the Tribunal was set aside. 3. The contention now raised by the learned ....

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....change of India had confirmed that M/s Vatika Merchants (supra) was expelled from the exchange long prior to the transactions in question. Further, it was also confirmed that the assessee is a non-existent client under any member of the exchange. 5. Taking into account, these facts and the fact that the assessee had not produced any material to contradict the statement of the exchange, the Assess....