Disallowance of 1% reasonable as share transactions manipulated via entry provider

Dineshkumar R. Tulsyan (HUF) Vs ITO (ITAT Pune)

ITAT Pune held that disallowance of 1% is reasonable as admittedly the share transactions were manipulated through entry provider, stockbrokers in order to obtain fraudulent income by rigging share prices and selling them in order to justify the unaccounted income of the assessee.

Facts- The assessee has filed a return of income declaring a total income of Rs. 7,28,260/- on 02-08-2014. The A.O assessed the income of the asses

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