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TMI Blog2018 (10) TMI 1979X X X X Extracts X X X X X X X X Extracts X X X X ..... , disputing the claim of the assessee, the judgment in RAKHI TRADING PRIVATE LTD. [ 2018 (2) TMI 580 - SUPREME COURT] cannot be applied to the facts of this case. In view of the above discussion the addition in question is deleted and the appeal of the assessee is allowed. - ITA No. 1388/Kol/2018 - - - Dated:- 5-10-2018 - HON BLE SHRI J. SUDHAKAR REDDY, AM For the Appellant : Shri Miraj D. Shah, AR For the Respondent : Shri Saurav Kumar, Addl. CIT ORDER PER J.SUDHAKAR REDDY, AM: This is an appeal filed by the assessee directed against the order of the Commissioner of Income Tax-(A)-10, Kolkata dated 18.05.2018 passed u/s 250 of the Income Tax Act, 1961 (the Act ) relating to A.Y. 2014-15. 2. The sole i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng of the department and which were the basis on which conclusion were drawn against the assessee. Copy of the report was also not given. 4. Under the circumstances, in a number of cases this bench of the Tribunal has consistently held that decision in all such cases should be based on evidence and not on generalisation, human probabilities, suspicion, conjectures and surmises. We have in all cases deleted such additions. Some of the cases where detailed finding were given are listed below:- Sl.No ITA Nos. Name of the Assessee Date of order/Judgment 1. 1236-1237/K/17 ITAT Kolkata Manish Kumar Baid Others vs A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d of India vs Rakhi Trading Private Ltd in Civil Appeal No.1969 of 2011 with Civil Appeal Nos.3174- 3177 of 2001 and Civil Appeal No.3180 of 2011. The ld. Counsel for the assessee submits that there is no surviving order of SEBI against the assessee or the company, the script of which was purchased and sold by the assessee. When there is no surviving adverse order of SEBI, disputing the claim of the assessee, the judgment of the Hon ble Supreme Court cannot be applied to the facts of this case. 7. In view of the above discussion the addition in question is deleted and the appeal of the assessee is allowed. 8. In the result the appeal of the assessee is allowed. Order pronounced in the Court on 05.10.2018 - - TaxTMI - TMITax - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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