2025 (6) TMI 948

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.... the ledger account of the broker as 'income' of the assessee. 3. The brief facts qua the issue involved are that assessee is into business of trading in F & O. He has filed his return of income on 06/12/2016 declaring total income of Rs. 3,71,820/-. Before the ld. AO assessee has filed financial statement of stock broker, Anurag Stock Broking Pvt. Ltd., from such statement AO inferred that assessee has profit of Rs. 4,33,564/-. He has considered the closing debit balance as profit of Rs. 4,33,564/-. Without giving any reasons that how it is an income, he has made the addition of Rs. 4,33,564/-. Ld. CIT (A) has dismissed the appeal exparte. 4. Before us ld. Counsel has submitted that the ld. AO has misunderstood and misinterpreted the....

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....O- 1684557   -1747857.04 NM005 03-02-16 SJ9307 NSE_FNO BILL CREDIT MARGIN ENTRY FOR FO   1972570.02 224712.98 NM005 03-03-16 SJ9229 NSE_FNO BILL ENTRY FOR FO-20160302   210192 434904.98 NM005 03-03-16 SJ9230 NSE_FNO BILL DEBIT MARGIN ENTRY FOR FO- 1868794.49   -1433889.51 NM005 03-03-16 SJ9230 NSE_FNO BILL CREDIT MARGIN ENTRY FOR FO   1684557 250667.49 NM005 03-04-16 SJ9230 NSE_FNO BILL ENTRY FOR FO-20160303   4447 255114.49 NM005 03-04-16 SJ9231 NSE_FNO BILL DEBIT MARGIN ENTRY FOR FO- 1752192.99   -1497078.5 NM005 03-04-16 SJ9231 INSE_FNO BILL CREDIT MARGIN ENT....

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....ARGIN ENTRY FOR FO- 1798968.02   -1712966.55 NM005 14/03/2016 SJ9236 INSE_FNO BILL CREDIT MARGIN ENTRY FOR FO   1862353.51 149386.96 NM005 15/03/2016 SJ9236 NSE_FNO BILL ENTRY FOR FO-20160314   2634 152020.96 NM005 15/03/2016 SJ9237 INSE_FNO BILL DEBIT MARGIN ENTRY FOR FO- 1729237.5   -1577216.54 NM005 15/03/2016 SJ9237 NSE_FNO BILL CREDIT MARGIN ENTRY FOR FO   1798968.02 221751.48 NM005 16/03/2016 SJ9238 NSE_FNO BILL CREDIT MARGIN ENTRY FOR FO   1729237.5 1950988.98 NM005 16/03/2016 SJ9238 INSE_FNO BILL DEBIT MARGIN ENTRY FOR FO- 1829004.02   121984.96 NM005 17/03/20....

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....p; -1501051.27 NM005 23/03/2016 SJ9243 NSE_FNO BILL CREDIT MARGIN ENTRY FOR FO   1870868.24 369816.97 NM005 28/03/2016 SJ9243 INSE_FNO BILL ENTRY FOR FO-20160323   8177 377993.97 NM005 28/03/2016 SJ9244 INSE_FNO BILL DEBIT MARGIN ENTRY FOR FO- 1843110   -1465116.03 NM005 28/03/2016 SJ9244 NSE_FNO BILL CREDIT MARGIN ENTRY FOR FO   1812871.01 347754.98 NM005 29/03/2016 SJ9244 NSE_FNO BILL ENTRY FOR FO-20160328   5210 352964.98 NM005 29/03/2016 SJ9245 NSE_FNO BILL DEBIT MARGIN ENTRY FOR FO- 1925498.98   .1572534 NM005 29/03/2016 SJ9245 INSE_FNO BILL CREDIT MARGIN ENTRY FOR FO....