2024 (2) TMI 1488

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.... Mr. Anuroop Singhi with Mr. Aditya Khandelwal For the Respondent : ORDER AVNEESH JHINGAN,J (ORAL): 1. This appeal under Section 260A of Income Tax Act is filed against the order dated 03.04.2023 passed by Income Tax Appellate Tribunal, Jaipur Bench, Jaipur (for short 'Tribunal') allowing the appeal of the respondent. 2. Following substantial questions of law have been proposed:- ....

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....ing the addition made by the A.O. on account of commission paid for acquiring accommodation entry ignoring that such type of synchronized trading is violation of transparent norms of trading in securities?" 3. The brief facts of the case are that the respondent for assessment year 2015-2016 filed an income tax return declaring income of Rs. 5,48,200/-. The case was taken up in scrutiny and vide....

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....uise of long terms capital gains was being provided by the company. It is further argued that the steep rise in shares prices within a short period creates a doubt on the transaction which was not supported by any document. 5. The Tribunal while allowing the appeal took into consideration that 12500 shares of the company were purchased by the respondent in financial year 2012-2013 for an amount....