2017 (9) TMI 1924

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.... 1. Revenue is in appeal against the judgement of the Income Tax Appellate Tribunal dated 06.01.2017 raising following questions for our consideration: (A) Whether in the facts and circumstances of the case, Appellate Tribunal is correct in upholding the order of CIT(A) without appreciating the fact that in the group cases of Mahasagar Securities Pvt Ltd, Shri Mukesh Choksi who had manag....

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.... (D) Whether in the facts and the circumstance of the case, Appellate Tribunal is correct in upholding the order of CIT(A) holding the shares transactions to be genuine since the same were carried out through banking channel though the same were not executed on the floor of NSE/ISE? (E) Whether in the facts and the circumstances of the case, the Appellate Tribunal is correct in uphol....

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....borate order considered the nature of transactions and while deleting the addition observed that the assessee had shown the identity of the person from whom the sale consideration was received. He had also proved the genuineness of the transaction by submitting demat statement of the seller, sale invoices of the broker and copy of the bank statement through which the transactions were routed. Inte....