9911796707
TMI Blog2023 (3) TMI 413X X X X Extracts X X X X X X X X Extracts X X X X ..... ontract notes generated during the course of the transactions were submitted along with reply. It was also asserted by the petitioner that all transactions were made through banking channels. The petitioner took the position that the shares of the aforementioned entities were sold in the succeeding AY i.e., AY 2017-18 via Screen Based Real Time trading mechanism, provided by the National Stock Exchange, via SMC Global Securities Limited. As asserted by the petitioner that securities transaction tax had been paid on the sale of shares. It is also averred that short term capital gain earned on the sale of the said shares was offered for levy of tax at the rate of 15% under Section 111A of the Act, in AY 2017-18. It is not in dispute tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tions that we propose to pass, Mr Maratha says that counter-affidavit is not required to be filed. Therefore, with the consent of the counsels for the parties, the writ petition is taken up for final hearing and disposal, at this stage itself. 4. This writ petition is directed against the notice dated 30.05.2022 issued under Section 148A(b) of the Income Tax Act, 1961 [in short, Act ]. 4.1. Besides this, a challenge is also laid to the order dated 19.07.2022 passed under Section 148A(d) of the Act and the consequent notice of even date i.e., 19.07.2022 issued under Section 148 of the Act. 5. To be noted, the instant writ action concerns Assessment Year (AY) 2016-17. 6. Mr Ruchesh Sinha, who appears on behalf of the petitioner, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1.01.2016 @ Rs.50 per share. (iii) Three, in addition, thereto, the petitioner had brought 12,500/- equity shares of another entity, namely, Delta Corp Limited on 29.02.2016, for Rs.49 per share. (iii) Lastly, the shares of the aforementioned entities were brought via a broker i.e., Asian Bulls Capital Private Limited. 8.3. The contract notes generated during the course of the transactions were submitted along with reply. 8.4. It was also asserted by the petitioner that all transactions were made through banking channels. 8.5. Furthermore, the petitioner took the position that the shares of the aforementioned entities were sold in the succeeding AY i.e., AY 2017-18 via Screen Based Real Time trading mechanism, provided b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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