9911796707
TMI Blog2023 (8) TMI 886X X X X Extracts X X X X X X X X Extracts X X X X ..... , in which, Syncom Formulations Limited has been found to be involved in bogus LTCG and loss to beneficiaries - According to Petitioner, this order has been passed without jurisdiction because no separate order disposing Petitioner s objections has been passed - HELD THAT:- Petitioner is a family member of the promoter group of Syncom Formulations Limited and there has never been any investigatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Mr. Shshi Bekal. For the Respondents : Mr. Akhileshwar Sharma with Ms. Shilpa Goel. P.C:- Petitioner is challenging the action of Respondent No. 1 in issuing notice dated 31st March 2021 issued under Section 148 of the Income Tax Act, 1961 (the Act) seeking to re-assess Petitioner s income for Assessment Year 2017-18. Petitioner is also challenging an Assessment Order dated 31 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd proved by the SEBI and Investigation with the scrip of M/s. Syncom Formulations Limited . for providing bogus LTCG and loss to the beneficiaries by inflating the share price through doctored transactions made between the syndicate members. But despite repeatedly calling upon Respondent No. 1 to provide a copy of SEBI s report or finding as recorded in the reasons, the same has been only stone ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t March 2022 and remand the matter back to Jurisdictional Assessing Officer (JAO). The JAO shall, within two weeks of this order being uploaded, make available to Petitioner a copy of the report of SEBI relied upon in the reasons to believe for re-opening. If the report contains information regarding other entities which are not concerned with Petitioner, the JAO may redact those portions. 5. W ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
