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TMI Blog2018 (12) TMI 1880X X X X Extracts X X X X X X X X Extracts X X X X ..... Sreenivasan,JCIT,D.R ORDER GEORGE MATHAN, J. ITA No.2299 /CHNY/2017 is the appeal filed by the Assessee, Shri Ashwin Kumar Davey against the order of the Commissioner of Income Tax (Appeals)-13, Chennai, in ITA No.95/CIT(A)-13/2014-15 dated 14.07.2017 for assessment years 2014-15, ITA No.2300 /CHNY/2017 is the appeal filed by the Assessee, Smt. Aati Davey against the order of the Commissioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re purchase was made through one Mr.Vijay vishal Shah, Member BSE and purchase of shares were done through online medium by payment of Security Transaction Tax (STT). These shares were sold by the assessees between October,2013 and January,2014 through M/s.Global Capital Market ,Member BSE and STT was paid on this transaction also. The assessees had made about Rs. 10 lakhs to Rs. 14 lakhs profits ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the investigation reports in respect of the racket for generating bogus entries. It was a submission that M/s.NCL Research Limited and M/s.RISA International, both the companies had come under scrutiny. Admittedly, it was a submission that the assessees herein had no connection either with the directors or Managing Directors, or anybody in the two companies. It was a submission that subsequentl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11 & 2011-12 in ITA Nos.2786 & 2787/Mds/2017 vide order dated 03.05.2018. It was a prayer that on identical directions, the issue in these appeals can also be restored to the file of ld. Assessing Officer. 5. We have considered the rival submissions. A perusal of the assessment order clearly shows that this is not a case where the ld. Assessing Officer has been able point out where the assessee h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns and the ld. Assessing Officer is directed to grant the assessee benefit of exemption u/s.10(38) of the Act as claimed in respect of long termcapital gains generated by purchase and sale of shares of M/s.NCL Research Limited and M/s.RISA International as claimed by the assessee. 6. In the result, all the appeals of the assessee in the case of Shri Ashwin Kumar Davey, Smt. Aarti Davey, and Shri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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