TaxTMI 
TaxTMI 
2025 (6) TMI 1401
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....djudicate these grounds through the present consolidated order. 3. We have heard Ld. Counsel of both the parties, perused the material placed on record and judgements cited before us and also orders passed by the revenue authorities. From the records, we noticed that as per the facts of the present case, the assessee purchased 2500 shares of M/s. Splash Media (name changed to Luharuka Media & Infra Ltd. for Rs. 3,27,496/- on 19.8.2015 through Alliance Finstock Ltd., a broker duly registered with SEBI by executing purchase order online on BSE's electronic trading platform for execution of sale and purchase order of securities for which she has received delivery directly in her d-mat account maintained with Axis Bank Ltd. In this regard, c....
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....rrect. Looking at the volatility and better returns the assessee sold these equity shares at Recognized Bombay Stock Exchange through broker namely M/s. Alliance Finstock Ltd. at various rates for total value of Rs. 1,00,13,050/- and the detailed content in following chart :- CN No. Date of Sale Quantity Amount Charges (incl. STT) Total 29717 14-12-2010 2,500 187502.50 2327.50 185175.00 29823 15-12-2010 3,000 225300.00 2798.00 222502.00 30029 29-12-2010 6,000 428400.00 5319.00 423081.00 30951 30-12-2010 5,000 361250.00 4486.00 356764.00 31103 31-12-2010 4,000 294600.00 3654.00 290946.00 31228 03-01-2011 4,500 340875.00 ....
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.... in the case of sister of the assessee titled Varshaben Laherikant Bhadra Vs. ITO (ITA No. 1665/Mum/2024 dated 19.5.2025), wherein it was held as under :- "8. We have heard the rival submissions and also perused the relevant findings in the impugned orders. Apart from the fact that the shares were purchased and sold only on electronic platform of Bombay Stock Exchange through registered stock broker from SEBI after paying STT, it has been brought on record by the Ld. Counsel that husband of the assessee was a regular trader and investor in shares and assessee had also made investments in several other shares. Thus assessee was also a regular investor in shares. During the course of hearing we had enquired from the assessee whether ....
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....tated that in none of the period there was no specific instance or manipulative pattern which can show that price was rigged or scrip was manipulated to provide any accommodation entry. Thus it was reported that there was no manipulation and no adverse has been drawn. Since it is an exhaustive report, therefore the contents of the same cannot be reproduced. This SEBI report itself clarifies the doubts of the ld. AO and also Director, Investigation Wing, Kolkata who had specifically referred this matter that it should be further investigated by the SEBI. SEBI did not find any manipulation in the prices or that the prices were rigged by some entities either by the buyers or by the sellers and no adverse inference have been drawn even with reg....