2018 (3) TMI 1208

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..... -examining him was granted. Tribunal also gave independent reasons for overturning the orders of the Revenue authorities. It was noticed that the consideration for purchase of shares was paid by cheque. The shares were transferred in the names of the assessee and thereafter to the demat account of the assessee. It was from such demat account the shares were sold. The issue is primarily based on .....

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..... actions through stock exchange and those transactions were carried out off market, thus should be treated as illegal and fraudulent or not? 2. The Assessing Officer having made the additions on the ground of bogus purchases which were confirmed by the CIT(Appeals), the Tribunal, by the impugned judgement, reversed the orders of the Revenue authorities. The Tribunal observed that the entire a .....

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