TMI Blog2013 (7) TMI 966X X X X Extracts X X X X X X X X Extracts X X X X ..... - - Dated:- 10-7-2013 - SHRI R. K. GUPTA, JM For the Appellant : Shri Ajay Singh Shri R.V.Shah For the Respondent : Shri O.P.Singh ORDER This appeal has been preferred by the assessee against the order dated 15-1-2013 of CIT(A)-11, Mumbai relating to the assessment year 2003-04. 2. Grounds No.1 2 are not pressed, therefore, they are dismissed as not pressed. 3. Grounds No.3 to 5 relate to upholding the order of the AO treating the long term capital gain disclosed on the sale of shares of Buniyad Chemicals Ltd. as unexplained income and sustaining the addition of ₹ 3,09,310/- and confirming the addition of ₹ 15,466/- being alleged commission paid to Shri Mukesh Choksi for providing long term ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is in appeal here before the Tribunal. 6. Learned counsel of the assessee submitted that the issue is squarely covered by various decision of the Tribunal i.e. in the case of Chandrakant Babulal Shah, decided in ITA No.6108/M/2009, vide order dated 15-12-2010 and in the case of Shri Ravindrakumar Toshwniwal, decided in ITA No.5302/M/2008, vide order dated 24-2-2010. It was further stated that the decision of the Tribunal has also been confirmed by the Hon ble High Court. Copy of the order has also been placed in the compilation also. It was further explained that in this case also the shares were purchased of M/s Buniyad Chemicals Ltd., through Mr. Mukesh Chokshi. After analyzing the cases in detail, the Tribunal has held that the transa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as found against the assessee. The statement of Mr.Mukesh Chokshi was recorded sometime in the year of 2009, whereas transaction of purchase and sales were held in assessment year 2002-03 2003-04. Taking into consideration all these aspects and taking into consideration the various decision of the Tribunal, which have been confirmed by the Hon ble jurisdictional High Court, I hold that the transaction for purchase and sale of shares in the present case also cannot be held as bogus as no material was found against the assessee directly. 10. In view of the above facts and circumstances of the case, I delete both these additions i.e. ₹ 3,09,310/- and ₹ 15,466/-, respectively. 11. In the result, appeal of the assessee is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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