2005 (9) TMI 57

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..... idence sufficiently showed that such purchases were made and that since the assessee could not make the payment due to shortage of funds, the assessee was compelled to pay interest till the date of the delivery of the shares was taken by him. - purchase of shares by M/s. Deepak Choudhary and M/s. P.S. Kalra, Hindu undivided family was for and on behalf of the assessee and that the assessee had pai .....

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..... uld not make the payment due to shortage of funds, the assessee was compelled to pay interest till the date of the delivery of the shares was taken by him. This is evident from the following paragraph from the said order of the Commissioner: "It is a fact that the assessee does not have any documentary evidence to support the claim but all the circumstantial evidences are there to prove that the .....

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..... r of Income-tax (Appeals) that both the parties were share brokers could not be controverted by the learned Departmental Representative by filing any positive evidence, though the learned Departmental Representative has commented that it seems that both the parties were not share brokers, however, no evidence whatsoever was filed before the Bench. Therefore, we confirm the finding of the Commissio .....

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