2018 (10) TMI 1646

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....T<br>Dated:- 5-10-2018<br>ITA No. 1395, 1394, 1392, 1269, 1268, 1226, 1218, 1217, 1201, 1199, 874, 851, 817, 634, 521, 239, 86, 1403, 1404/Kol/2018 - -<br>Income Tax<br>Shri J.Sudhakar Reddy, AM For the Appellant: Shri Subash Agarwal, Advocate For the Respondent: Shri Raja Sengupta, JCIT ORDER PER J.SUDHAKAR REDDY, AM: This is an appeal filed by the assessee directed against the order of the ....

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.... rejected. 3. The assessee carried the matter in appeal and the ld. CIT(A)-10, Kolkata, had upheld the addition. The ld. CIT(A) has in his order relied upon "circumstantial evidence" and "human probabilities" to uphold the findings of the AO. He also relied on the so called "rules of suspicious transaction". No direct material was found to controvert the evidence filed by the assessee, in support....

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....ties, suspicion, conjectures and surmises. We have in all cases deleted such additions. Some of the cases were detailed finding which are listed below :- Sl. No ITA Nos. Name of the Assessee Date of order/Judgment 1. 1236-1237/K/17 ITAT - Kolkata Manish Kumar Baid & Others vs ACIT 18.08.2017 2 &nbsp;443/Kol/2017 Kiran Kothari (HUF) vs ITO 15.11.2017 3. 22 of 2009 Calcutta High Cou....

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....e Hon'ble High Courts and the ITAT. 6. The ld. Departmental Representative relied on the judgment of the Hon'ble Supreme Court in the case of Securities and Exchange Board of India vs Rakhi Trading Private Ltd in Civil Appeal No.1969 of 2011 with Civil Appeal Nos.3174- 3177 of 2001 and Civil Appeal No.3180 of 2011. The ld. Counsel for the assessee submits that there is no surviving order of SEBI ....