ITAT quashes Reassessment Proceedings initiated on basis of Investigation Report without make Enquiry of Investment in Stock Exchange Transactions [Read Order]

No evidence is brought by AO on record to prove that the assessee was directly involved in price manipulation of the shares dealt by him in connivance with the brokers and entry operators
By Aparna. M - On March 23, 2024 4:00 pm - 2 mins read
ITAT Delhi - ITAT - Income Tax - Investment in Stock Exchange Transactions - Stock Exchange Transactions - Stock Exchange - Taxscan

The Delhi bench Income Tax Appellate Tribunal ( ITAT ) quashed reassessment proceedings initiated on the basis of investigation report of Kolkata Wing without making enquiry of investment in stock exchange transactions. The Assessee, Naz Shazia, filed the return of income for the Asst. Year 2014-15 on 24.12.2014 declaring taxable income of Rs. 9, 34,…

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