2022 (5) TMI 1543

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....Mr. Justice Sameer Jain For the Appellant(s) : Mr. Anuroop Singhi, Adv. ORDER Present appeal is filed under Section 260A of the Income Tax Act, 1961 against the order dated 10.07.2019 passed by the Division Bench of the Income Tax Appellate Tribunal (for short "ITAT"), Jaipur Bench, Jaipur in ITA No. 550/JP/2019 for assessment year 2014-15. By the present IT appeal substantial question....

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....he circumstances of the case, the Learned ITAT, Jaipur was justified in deleting the addition of Rs. 151869/- being commission paid to acquire such accommodation entry? IV) Whether on the facts and in the circumstances of the case, the Learned ITAT, Jaipur was justified in rejecting the Revenue's appeal without considering the case on merit where the additions were made by the AO on t....

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....AT, reproduce as under:- "The same facts were considered in the above cited cases regarding purchase of shares of M/s. Careful Projects Advisory Ltd which was subsequently merged with M/s. Kailash Auto Finance Ltd. and after analyzing the relevant documentary evidence which includes purchase bill, payment consideration through bank, dematerialization of shares, allotment of the shares ama....

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....dence to doubt the correctness of the evidences produced by the assessee then treating the transaction of purchase and sale as sham by the AO is not justified. The assessee has also produced the financial statements of M/s. Kailash Auto Finance Ltd. to show that the company has earned a handsome profit. Further, the alleged SEBI order was also subsequently revoked. Therefore, all these facts estab....