Held that the Assessing Officer called for information/documentation from the assessee to examine the net profit/premium from transactions in the F&O segment and also called for information from the assessee’s broker through whom the transactions were conducted and cross verified the figures reported in the return of income. Revision order was quashed. (AY. 2016-17)
Deepak (HUF) v. PCIT (2022) 220 TTJ 447 (Chd)(Trib) Sunita Gupta (Smt) v. PCIT (2022) 220 TTJ 447 (Chd)(Trib) Rajat Gupta v. PCIT (2022) 220 TTJ 447 (Chd)(Trib) Vishal Gupta (HUF) v. PCIT (2022) 220 TTJ 447 (Chd)(Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Derivative transactions-Fresh material/data received from NSEL-No specific finding recorded by the PCIT-Revision order was quashed. [S. 133(6) 143(2)]