2017 (10) TMI 66

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..... had confirmed the transactions between the assessee and M/s Vatika. This was considered by the Assessing Officer and the Assessing Officer treated the receipts as unexplained cash credit for the reason that M/s National Multi Commodity Exchange of India had confirmed that M/s Vatika Merchants (supra) was expelled from the exchange long prior to the transactions in question. Further, it was also c .....

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..... oner : Sri T. M. Sreedharan For the Respondent : Sri Jose Joseph ORDER Antony Dominic, J. 1. aHeard the learned Senior Counsel for the petitioner and the learned Standing Counsel for the Revenue. 2. By this application, the respondent in I.T.A. No.195 of 2014 is seeking review of the judgment dated 19.08.2015 whereby the questions of law framed for consideration of this Court w .....

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..... ficer and the Assessing Officer treated the receipts as unexplained cash credit for the reason that M/s National Multi Commodity Exchange of India had confirmed that M/s Vatika Merchants (supra) was expelled from the exchange long prior to the transactions in question. Further, it was also confirmed that the assessee is a non-existent client under any member of the exchange. 5. Taking into acco .....

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