2022 (2) TMI 1374

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..... sment. First of all, it does not explain what reversal trade in BSE means. Secondly, it does not even state on which scrip there has been any reversal trade in BSE that can be termed escapement of assessment and thirdly, how could it be even linked to petitioner. Even in the affidavit in reply, it is simply stated I say that the Department was having information that petitioner had made reversal t .....

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..... td., filed the return of income for the year under consideration on 29.09.2015 declaring loss of Rs.1476/-. Subsequently, the case was selected for scrutiny and the assessment was completed on 19.12.2017 on the total assessed loss of Rs.70,05,060/-. During the year under consideration, the assessee was engaged in the business of providing financial services. The income department has collected .....

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..... hellip; 4………………… 5………………… 6…………………." 2 Mr. Padvekar is at loss as to what reversal trade in BSE means. Mr. Sharma is not very certain what it could mean and we are also at sea. The reasons does not disclose anything that could be remotely ter .....

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