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These are the latest case laws decided by various Income Tax Appellate Tribunals (ITAT) of India on Income Tax which have been published recently. The case laws are open for discussion and we invite expert comments from our members on its applicability and effect on relevant issues.

08-01-2019, ANIP RASTOGI, Section 10(38), 68, Tribunal Delhi

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2 months 1 week ago #8301 by amit
Section - 10(38), 68
Order Date - 08-01-2019
Favouring - Revenue
Court - Tribunal Delhi
Appellant - ANIP RASTOGI
Respondent - ITO
Justice - H.S. SIDHU JM
Citation - 119Taxpundit98
Appeal No. - ITA No. 3809/DEL/2018
Asstt. Year - 2015-16

Order

PER : H.S. SIDHU

These appeals by the different assessees are preferred against the respective orders of the Ld. Commissioner of Income Tax [Appeals]-Meerut pertaining to assessment year 2015-16. Since the issues involved in these appeals are common and identical, hence, the appeals were heard together and are being disposed of by this common order for the sake of convenience. The grounds raised in

ITA No. 3809/Del/2018 read as under:-

1. That the Id. CIT(A) has erred in law as well as on the facts of the case by confirming the addition of Rs.22,28,172/-, of the amount of LTCG earned by the
appellant on STT paid sales of listed equity shares of M/sCCL International Ltd., ignoring the evidences, documents and case laws relied upon by the appellant, for various reasons including the followings:-

a) That the conclusions drawn by the authorities below for making/confirming the aforesaid addition are unjust, unlawful and based upon incorrect appreciations of the facts on record and the submissions of the appellant ha e not been considered in right perspective.

b) That nothing has been brought on record to show any linking between the alleged entry operators whose statements have been relied upon and the appellant. The evidences and arguments used by the authorities below are generic in nature and can in no sense be related to the appellant.

c) That the authorities below have made & confirmed the impugned addition without any basis and without brining on record any corroborative material found during the course of assessment proceedings and also by completely ignoring the well established law that no addition can be made solely on the basis of statements recorded on oath during the course of survey conducted by the Investigation Wing of Income Tax, Kolkata and departmentally communicated to the A.O., without making his own independent enquiry and efforts. Thus the additions made solely on the basis of the statements recorded behind the back of the appellant deserve to be deleted.

d) That the statement of Sh. Jai Kishan Poddar, as relied upon the Id. A.O. cannot be taken cognizance with, as the same has been recorded at the back of the appellant and no opportunity of cross examination was provided. Further, the statement was only general statement and no where did the name of the appellant appear therein.

2. The appellant respectfully craves leave to add, alter, omit or substitute any or all of the above grounds of appeal.

2. The grounds raised in ITA No. 3810/Del/2018 read as under:-

1. That the Id. CIT(A) has erred in law as well as on the facts of the case by confirming the addition of Rs.14,36,364/-, of the amount of LTCG earned by appellant on STT paid sales of listed equity shares of M/s CCL International Ltd., ignoring the evidences, documents and case laws relied upon by the appellant, for various reasons including the followings:-

a) That the conclusions drawn by the authorities below for making/confirming the aforesaid addition are unjust, unlawful and based upon incorrect appreciations of the facts on record and the submissions of the appellant have not been considered in right perspective.

b) That nothing has been brought on record to show any linking between the alleged entry operators whose statements have been relied upon and the appellant. The evidences and arguments used by the authorities below are generic in nature and can in no sense be related to the appellant.

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