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TMI Blog2018 (11) TMI 1924X 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. 2477/Kol/2017 - - - Dated:- 9-11-2018 - SRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SMT. MADHUMITA ROY, JUDICIAL MEMBER For the Appellant : Shri Paras Nath Keshari, A/R, For the Respondent : Shri Saurabh Kumar, Addl. CIT, Sr. D/R. ORDER Per J. Sudhakar Reddy, AM :- This appeal filed by the assessee is directed against the order of the Learned Commissioner of Income Tax (Appeals)-10, Kolkata, (hereinafter the Ld. CIT(A) ), dt. 21/0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ure and not specific to any assessee. The assessee was not confronted with any statement or material alleged to be the basis of the report of the Investigation Wing 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 were detailed finding which are listed below :- Sl.No ITA Nos. Name of the Assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourts and the ITAT. 6. The ld. Departmental Representative relied on the judgment of the Hon ble Supreme Court in the case of Securities and Exchange Board 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, against 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. The consequential ad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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