Case Law Details
Case Name : Atul C. Vyas Vs ACIT (ITAT Mumbai)
Related Assessment Year : 1992-93
Courts :
All ITAT ITAT Mumbai
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Atul C. Vyas Vs ACIT (ITAT Mumbai)
ITAT Mumbai held that disallowance alleging that the hedging transactions in ‘non-cleared securities’ are illegal are unsustainable in law
Facts- During the course of survey, certain share certificates registered in the name of the assessee were found. The value of those shares was ₹ 86,300/-. Hence the assessee was asked to explain the sources for making the above said investments. It was submitted that these share certificates do not belong to the assessee an
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