Case Law Details
Case Name : Asst. Commissioner of I.T. Vs. Shri Ravindrakumar Toshniwal (ITAT Mumbai)
Appeal Number : I.T.A. NO. 5302/Mum/2008
Date of Judgement/Order : 24/02/2010
Related Assessment Year : 2005- 06
Courts :
All ITAT ITAT Mumbai
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Off market transaction is not a unlawful activity and there is no relevance in seeking details of share transaction from stock exchange when the sale was not on stock exchange and relying upon it for making addition
ACIT Vs. Shri Ravindrakumar Toshniwal (ITAT Mumbai)-
AO has treated the said transactions as bogus transactions on the ground that‑
a) The sale transactions were not on the floor of the ASEL but were off market transactions;
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