2018 (10) TMI 2023

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....: This is an appeal filed by the assessee directed against the order of the Commissioner of Income Tax-(A)-10, Kolkata dated 18.05.2018 passed u/s 250 of the Income Tax Act, 1961 (the 'Act ') relating to A.Y. 2014-15. 2. The sole issue that arises for my adjudication is whether the Assessing Officer was right in rejecting the claim of the assessee that he had earned Long Term Capital Gains o....

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....erial 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 authorities, are based on a common report of the Director of Investigation, Kolkata, which was general in nature and not specific to a....

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....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 of 2007  Bombay High Court CIT vs Shri Mukhesh Ratilal Marolia 07.09.2011 ....

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....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 against the assessee or the company, ....