Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Home Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles News Highlights
Extracts
Home List
← Previous Next →

Mrs. Hetal K. Vasa and Mrs. Hansa H. Vasa Versus ITO Ward 21 (1) (3) , Mumbai

2012 (12) TMI 1109 - ITAT MUMBAI

ITA No.6416 and 6417/Mum/2012 - Dated:- 7-12-2012 - SHRI R.K. GUPTA, JM. Assessee by: Mr. K. Goptal and Mr. Satender Pandey Revenue by: Mr. Mohit Jain ORDER These two appeals have been preferred by the two different assessees against the order of lea .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

and ₹ 52,500/- made by the Assessing Officer under Section 69 respectively in both these cases. On receiving some information from departmental authority that one Shri Narendra R. Shah, who had admitted to be running hawala racket and provided .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

es of the assessees were also appearing. Therefore, the Assessing Officer issued notice under Sections 147/148 to the assessees for filing their returns. Returns were filed. Thereafter the Assessing Officer found that both the assessees indulged in a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

om shares were purchased and mostly were settled and, therefore, there is no undisclosed investments by these persons, however, the Assessing Officer was not satisfied. Accordingly, he made addition of ₹ 63,000/- and ₹ 52,500/- in the han .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

were challenged. Learned CIT(A) was not satisfied with the explanation of the assessee. Accordingly, he dismissed the appeal of the assessees. Now, both the assessees are in appeal here before the Tribunal. 5. Learned counsel of the assessees has ve .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

merit, learned AR stated that they did not have any link with Mr. Narender R. Shah. Both these assessees have purchased shares through M/s Abhijai Investment and they have received the sale certificate. Copies of the same are placed on record. Those .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

investment. 7. The attention of the Bench was drawn on copies of the share broker through whom shares were purchased, which are placed in the paper book at pages 15 to 24. It was also explained that neither copy of statement of Shri Narendra R. Shah .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d Chellaram Vs. CIT, 125 ITR 713. 8. Learned DR has strongly placed reliance on the order of the CIT(A) as well as the Assessing Officer. 9. After considering the orders of the authorities below and the submissions of parties, I found that both the a .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Forum
what is new what is new
  ↓     bird's eye view     ↓  


|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version