Involvement of broker of Assessee in unfair trade practice not make assessee’s share transactions bogus

HIGH COURT OF JHARKHAND Commissioner of Income-tax, Jamshedpur versus Arun Kumar Agarwal (HUF) TAX APPEAL NOS. 4 TO 14 16 TO 18 & 21 to 23 OF 2011 JULY 13, 2012 ORDER 1. Heard the counsel for the parties. 2. These bunch of Tax Appeals are arising out of the order passed by the I.T.A.T. Dated 29.4.2010 whereby the I.T.A.T has dismissed the appeals of the Revenue and upheld all the separate orders passed by the Commissioner of Income Tax (CIT) (Appeals) whereby the CIT (Appeals), Jamshedpur vide order dated 8.5.2009 set aside the order passed by the A.O. and held that the in...