This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Duly executed Transaction in shares cannot be treated as Bogus
Case Law Details
- Case Name
- Asst. CIT Vs. Bhavik Bharatbhai Padia (ITAT Ahemdabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009- 10
- Courts
- All ITAT, ITAT Ahmedabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
It is seen that it is undisputed and uncontroverted that (a) the shares have been purchased against the payment (again supported by the contract notes); (b) such shares have been found to be credited into the DEMAT account of the assessee; (c) on sale of such shares there were debited from the DEMAT account of the assessee; (d) the assessee has received payment against the sale of such shares through banking channel and (e) the transaction of sale on the floor of BSE is found to be genuine and confirmed by the BSE. I fail to understand that when the shares were found to be credited and debited...
