2025 (8) TMI 1719

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.... Appellant : Mr. Aryak Datt, Adv., Mr. Prithu Dudhoria, Adv. For the Respondent : Mr. Pratyush Jhunjhunwalla, Adv., Ms. Sruti Dutta, Adv., Ms. Sakshi Singhi, Adv. ORDER The Court : This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the Act) is directed against the order dated 9.10.2024 passed by the Income Tax Appellate Tribunal, "SMC" Bench, Kolkata (the Tri....

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....wards establishing the identity and genuineness of the share transactions ?" 3. We have heard learned advocates on either side. 4. The assessment for the year under consideration, AY 2013-14 was completed under section 147 read with section 144B of the Act by an order dated 15.9.2021 and an amount of Rs. 40 lakhs was held to be taxable income of the assessee. The assessee carried the ma....

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....in the case of M/s. Nikhil Holdings Pvt. Ltd. under section 143(3) read with section 153A of the Act. Apart from that loan confirmation was also filed by the assessee. More importantly, the Tribunal noted that the assessee to establish the genuineness of the transaction produces the books of accounts where it has been recorded the income tax return, balance-sheet, bank statement, loan confirmation....