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2014 (12) TMI 1280 - HC - Income TaxBogus share transactions - statement given by Mr. Mukesh Choksi - Held that:- It is not in dispute that the Assessing Officer treated the transaction bogus solely by relying upon the statement of Mr. Mukesh Choksi, who remained unconfronted, though, was called for as per Section 133(6) of the Income Tax Act, 1961. In response, it was communicated to the Assessing Officer that no adequate assistance could be given as the entire record of Mahasagar Securities was earlier impounded and was in custody of Income Tax Department. In these circumstances, Shri Mukesh Choksi was not confronted by the assessee. In absence of it, the statement of Shri Mukesh Choksi could have not been used against the assessee. - Decided in favour of assessee.
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