{"id":19892,"date":"2021-07-02T13:12:44","date_gmt":"2021-07-02T07:42:44","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ravi-bhaskar-wattamwar-v-ito-2020-187-dtr-149-204-ttj-261-smc-pune-trib\/"},"modified":"2021-07-02T13:12:44","modified_gmt":"2021-07-02T07:42:44","slug":"ravi-bhaskar-wattamwar-v-ito-2020-187-dtr-149-204-ttj-261-smc-pune-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ravi-bhaskar-wattamwar-v-ito-2020-187-dtr-149-204-ttj-261-smc-pune-trib\/","title":{"rendered":"Ravi Bhaskar Wattamwar v. ITO (2020) 187 DTR 149 \/ 204 TTJ 261 (SMC) (Pune) (Trib.)"},"content":{"rendered":"<p><em>Assessee disclosed sale of shares pertaining to PS IT I&amp;SL\u00a0 as long term capital gains . Assessing Officer held that\u00a0 scrip of PS IT I&amp;SL was used for providing accommodation entries to several parties, which was also banned by SEBI for its illegal activities. AO applied test of human probabilities and declared long term capital gain shown by assessee as non-genuine. CIT(A) confirmed action of Assessing Officer . Tribunal also affirmed the order of the lower Authorities relying on the ratio in\u00a0 <\/em>CIT<em> v. <\/em>Durga Prasad More (1971) 82 ITR 540 (SC )<em>\u00a0 (AY. 2015-16)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 69 :Unexplained investments \u2013 Penny stock \u2013Accommodation entries &#8211;  Capital gains held to be non genuine &#8211;  Addition as income from undisclosed source is affirmed [ S.10 (38) , 45 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-19892","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5aQ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/19892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=19892"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/19892\/revisions"}],"predecessor-version":[{"id":19893,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/19892\/revisions\/19893"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=19892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=19892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=19892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}