2018 (11) TMI 1924

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....ORDER Per J. Sudhakar Reddy, AM :- This appeal filed by the assessee is directed against the order of the Learned Commissioner of Income Tax (Appeals)-10, Kolkata, (hereinafter the 'Ld. CIT(A)'), dt. 21/09/2017, passed u/s 250 of the Income Tax Act, 1961 (hereinafter the 'Act'), relating to Assessment Year 2014-15. 2. The sole issue that arises for my adjudication is whether the Assessing Offic....

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....obabilities" 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 of the genuineness of the transactions. In other words, the overwhelming evidence filed by the assessee remains unchallenged and uncontroverted. The entire conclusions drawn by the revenue authori....

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....e of order/Judgment 1. 1236-1237/K/17 ITAT - Kolkata  Manish Kumar Baid & Others vs ACIT 18.08.2017 2 443/Kol/2017 Kiran Kothari (HUF) vs ITO 15.11.2017 3. 22 of 2009 Calcutta High Court  CIT, Kolkata-III vs Bhagwati Prasad Agarwal 29.04.2009 4.  456 if 2007  Bombay High Court  CIT vs Shri Mukhesh Ratilal Marolia 07.09.2011 5. 18 of 2017 Punjab and Haryan....

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....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 against the assessee or the company, the script of which was purchased and sold by the assessee. When there is no surviving adverse order of SEBI, against....