2018 (10) TMI 1646

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....T (Judgement / Order / Decisions)<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 ....

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....ort of the genuineness of the transaction was 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....

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....idence and not on generalisation, human probabilities, 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 Kira....

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....aim of the ld. Counsel for the assessee that the issue in question is covered by the above cited decisions of the 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 an....