Shri Murli Dhar Soni, JODHPUR V. ACIT, UDAIPUR

ITA 153/JODH/2011

• Counselvise Citation: 15323314 RSA 2011
• Duration Of Justice: 2 year(s) 7 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-11-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 28-11-2013
• Assessment Year: 2004-2005
• Appeal Filed On: 26-04-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: N A JOSHI
• Assessee Lawyers: JAGDISH SONI
• Keywords: Share purchase agreement; Benefit of exemption
• Section: 54F; 133(6)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH, JODHPUR BEFORE SHRI HARI OM MARATHA, JUDICIAL MEMBER AND SHRI N.K. SAINI, ACCOUNTANT MEMBER ITA NO.153/JODH//2011 ASSESSMENT YEAR: 2004-05 SHRI MURLI DHAR SONI, VS. ASSTT. COMMISSIONER OF INCOME TAX, C/O. SHRI G.R. VERMA, ADVOCATE, CENTRAL CIRCLE-1, UDAIPUR. BLOCK NO.B-9, OPP. BHERU BAGH, NEAR MAHAVEER COMPLEX, SARDARPURA, JODHPUR. (PAN: ADAPS 8872 P). ITA NO.154/JODH//2011 ASSESSMENT YEAR: 2004-05 SHRI KAILASH CHANDRA SONI, VS. ASSTT. COMMISSIONE R OF INCOME TAX, C/O. SHRI G.R. VERMA, ADVOCATE, CENTRAL CIRCLE-1, UDAIPUR. BLOCK NO.B-9, OPP. BHERU BAGH, NEAR MAHAVEER COMPLEX, SARDARPURA, JODHPUR. (PAN: ADAPS 8979 F). ITA NO.155/JODH//2011 ASSESSMENT YEAR: 2004-05 SHRI CHAND MAL SONI, VS. ASSTT. COMMISSIONER OF INCOME TAX, C/O. SHRI G.R. VERMA, ADVOCATE, CENTRAL CIRCLE-1, UDAIPUR. BLOCK NO.B-9, OPP. BHERU BAGH, NEAR MAHAVEER COMPLEX, SARDARPURA, JODHPUR. (PAN: ADAPS 8873 N). (APPELLANTS) (RESPONDENT) APPELLANT BY : SHRI JAGDISH SONI RESPONDENT BY : SHRI N.A. JOSHI, D.R. 2 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 DATE OF HEARING : 28.11.2013 DATE OF PRONOUNCEMENT : 29.11.2013 ORDER PER HARI OM MARATHA, JUDICIAL MEMBER: THE ABOVE CAPTIONED APPEALS ARE BEING DECIDED BY T HIS COMMON ORDER FOR THE SAKE OF CONVENIENCE, CONGRUENCE AND BREVITY. ITA NO.153/JODH/2011 IN THE CASE OF SHRI MURLI DHA R SONI 2. THIS APPEAL OF THE ASSESSEE SHRI MURLI DHAR SONI FOR A.Y. 2004-05 IS DIRECTED AGAINST THE ORDER OF LD. CIT(A), JAIPUR DA TED 19.01.2011. 3. THE FACTS OF THE SOLE GROUND INVOLVED IN THIS AP PEAL ARE THAT THE ASSESSEE CLAIMED LONG TERM CAPITAL GAIN (LTCG) OF RS.14,04,6 62/- ON SALE OF 12000 EQUITY SHARES OF BETALA GLOBAL. THESE SHARES WERE PURCHASED FOR A CONSIDERATION OF RS.27,860/- ON VARIOUS DATES DURING THE F.Y. 2002-0 3 FROM M/S. SHILPA SHARES & SECURITIES, MUMBAI. THE ASSESSEE HAS SHOWN SALE OF SHARES THROUGH M/S GOLDSTAR FINVEST PVT. LTD., MUMBAI. THE A.O. GOT ENQUIRIES CONDUCTED THROUGH DIT (INV), MUMBAI TO ASCERTAIN GENUINENESS OF THE TRANSACTIONS . HE FOUND THAT THE SALE OF 3 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 SHARES IS AN ARRANGED TRANSACTION TO CLAIM LTCG. D URING THE COURSE OF ASSESSMENT PROCEEDINGS, THE A.O. PUT THE ASSESSEE TO PROVE THE GENUINENESS OF THESE TRANSACTIONS. HE SOUGHT INFORMATION REGARDING THES E TRANSACTIONS UNDER SECTION 133(6) OF THE INCOME TAX ACT, 1961 (THE ACT FOR S HORT) AND CALLED THE REQUISITE INFORMATION FROM M/S. SHILPA SHARE & SECURITIES, M/ S GOLDSTAR FINVEST PVT. LTD. AND M/S. BETALA GLOBAL SECURITIES LIMITED, BUT THE LETTERS SENT WERE RETURNED UN- SERVED, EXCEPT IN THE CASE OF M/S. SHILPA SHARE & S ECURITIES WHO RESPONDED THROUGH ITS DIRECTOR WHO STATED THAT NO SUCH TRANSA CTION TOOK PLACE. THE ASSESSEE WAS CONFRONTED WITH THIS EVIDENCE. HE REPLIED THAT HE NEVER MET SHRI HEMANT SAPALE, DIRECTOR OF THE COMPANY M/S SHILPA SHARES & SECURITIES AND ONLY TRANSACTION OF PURCHASE AND SALE OF SHARES WERE MAD E THROUGH SHRI SATISH MANDOVRA AND, THEREFORE, THE STATEMENT OF SHRI HEMA NT SAPALE DOES NOT IMPACT GENUINENESS OF PURCHASE AND SALE OF SHARES PERTAINI NG TO M/S. BETALA GLOBAL SECURITIES LIMITED. IT WAS STATED THAT THE SALE OF SHARES WERE MADE THROUGH SHRI MUKESH CHOWKSI, DIRECTOR OF M/S. GOLDSTAR FINVEST P VT. LTD. IN SUPPORT, AFFIDAVITS OF SHRI SATISH MANDOVRA AND SHRI MUKESH CHOWKSI WERE FILED. THE A.O. WANTED BOTH THESE PERSONS TO PRESENT IN PERSON FOR ASCERTAINING VERACITY OF THE CONTENTS OF THE AFFIDAVIT. IN RESPONSE TO NOTICE, SHRI SATISH MANDOVRA ATTENDED A.O.S OFFICE AND HIS STATEMENT WAS RECORDED ON OAT H. HE STATED THAT HE WAS A SUB- BROKER AND M/S. SHILPA SHATRES & SECURITIES WAS THE MAIN BROKER. HE ADMITTED THAT 4 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 THE TRANSACTION OF SALE OF SHARES WAS DONE THROUGH HIM. SHRI MUKESH CHOWKSI, DIRECTOR OF GOLDSTAR FINVEST PVT. LTD. SENT A WRITT EN REPLY STATING THAT HE WAS AUTHORIZE BY SHRI MURLI DHAR SONI TO SELL HIS SHARE S. THE SHARES WERE ALREADY LYING IN SHRI MURLI DHAR SONIS D-MAT ACCOUNT. HE ADMITT ED THAT HE HAD SOLD THEM ON 17.11.2003 THROUGH SHRI SANDEEP MERCHANT. HE STATE D THAT SHARES WERE PURCHASED BY THE NOMINEE OF SHRI SANDEEP MERCHANT FOR RS.14,3 5,968/- WHO STATED THAT THE AMOUNT WAS RECEIVED IN CASH AND HANDED OVER TO SHRI SANDEEP MERCHANT TO HONOUR THE PURCHASE OF THESE SHARES. HE STATED THAT AFTER RECEIPT OF MONEY HE ISSUED COMPANYS CHEQUE TO SHRI MURLI DHAR SONI. IN THE L IGHT OF THE ABOVE FACTS, THE A.O. DOUBTED THE CLAIM OF LTCG MADE BY THE ASSESSEE AND ADDED RS.14,04,462/- TO THE RETURNED INCOME OF THE ASSESSEE AS HIS UNDIS CLOSED INCOME. THE BENEFIT OF EXEMPTION CLAIMED UNDER SECTION 54F WAS ALSO WITHDR AWN. 4. AGGRIEVED, THE ASSESSEE WENT BEFORE THE LD. CIT( A) AND MADE THE FOLLOWING SUBMISSIONS:- 2.1 THE ASSESSEE HAS MADE THE FOLLOWING SUBMISSI ON:- INVESTMENT IN SHARES & CLAIM OF LTCG/STCG DURING THE YEAR UNDER CONSIDERATION ASSESSEE HAS CLAIMED TO HAVE EARNED LONG TERM CAPITAL GAIN OF RS.1404662/- ON SALE OF 12000 SHARES OF BETALA GLOBAL LTD., WHICH WAS UTILIZED FO R CONSTRUCTION OF HOUSE AT NEW AHINSAPURI, UDAIPUR. DUE TO CONSTRUCTI ON OF HOUSE, THE 5 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 WHOLE LONG TERM CAPITAL GAIN EARNED WAS EXEMPT U/S 54F OF IT ACT, 1961. 2.2 THE APPELLANT SUBMITTED THAT HE HAS MADE FO LLOWING SUBMISSIONS BEFORE A.O. WHICH HAS NOT BEEN CONSIDERED BY A.O. FOR YOUR VERIFICATION, WE ARE PROVIDING HEREWITH THE DETAILED WORKING WITH DOCUMENTARY EVIDENCES AS UNDER:- I. DETAIL OF PURCHASE OF SHARE :- DURING THE FINANCIAL YEAR RELEVANT TO A.Y. 2003-0 4 THE ASSESSEE HAS PURCHASED 12000 EQUITY SHARES OF BETALA GLOBLE SECURITIES LTD. FROM M/S SHILPA SHARES AND SECURITIES LTD., A MEMBER OF NATIONAL STOCK EXCHANGE OF INDIA LTD. (NSEIL), MUMBAI FOR WITCH SE BI REG. NO. IS INB -230662822 AND CODE NO. IS 06628. THE DETAIL OF SHARE PURCHASE ARE AS UNDER :- B.NO. DATE SETTLE MENT NO. CONTRACT NOTE NO. NO. OF SHARES AMOUNT M008/0022 03.04.2002 008 M008/001 4000 8420 M009/0015 04.04.2002 009 M009/001 4000 9420 M011/0019 08.04.2002 011 M011/001 4000 10020 TOTAL 12000 27860 TOTAL OF NO. OF 12000 EQUITY SHARE WERE PURCHASE BY THE ASSESSEE FOR RS. 27860/- DURING THE FINANCIAL YEAR 2002-03 I N THE NAME OF ASSESSEE HIMSELF FROM SHILPA SHARES AND SECURITIES LTD. FURTHER DETAIL OF SHARES ARE AS UNDER :- NAME OF SHARE REGD. FOLIO NO. CERTIFICATE NO. PAID UP VALUE NO. OF SHARE DIST. NO. 6 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 BETALA GLOBLE LTD. 010068 00040418 107- PER SHARE 6000 02781601- 002783600 002858001- 002861200 003136001- 003136800 BETALA GLOBLE LTD. 010068 00040419 10/-PER SHARE 6000 3011601- 3017500 TOTA L 12000 DETAIL OF PAYMENT MADE AGAINST PURCHASE OF SHARES THE ASSESSEE PAID RS.27860/- TO SHILPA SHARES AND S ECURITIES LTD. IN TWO INSTALLMENT, THE DETAIL THERE OF ARE AS UNDER :- RECEIPT NO. DATE OF PAYMENT AMOUNT 156 10/04/2002 16000 163 11/04/2002 11860 FOLLOWING DOCUMENTS ENCLOSED TO PROVE THE ABOVE T RANSACTION FOR YOUR KIND PERUSAL :- 1. CONTRACT NOTE NO. M 008/001, M009/001 AND M011 /001, EXHIBIT NO.32 TO 34. 2. PURCHASE BILL NO. M008/0022, M009/0015 AND M01 1/0019, EXHIBIT NO.35 TO 37. 3. COPY OF LEDGER IN THE BOOKS OF ASSESSEE, EXHIB IT NO.38. 4. COPY OF CASH BOOK IN THE BOOKS OF ASSESSEE EXH IBIT NO.39. 5. COPY OF LEDGER ACCOUNT OF THE ASSESSEE IN THE BOOKS OF M/S SHILPA SHARES AND SECURITIES LTD, EXHIBIT NO.40. 7 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 6. COPY OF RECEIPT NO. 156 DATED 10/04/2002 AND R ECEIPT NO. 163 DATED 11/04/2002, EXHIBIT NO.41 TO 42. 7. PHOTOCOPY OF SHARE CERTIFICATE ISSUED IN THE NA ME OF ASSESSEE, EXHIBIT NO.43. 8. COPY OF STATEMENT OF DEMAT A/C OF STOCK HOLDIN G CORPORATION IN THE NAME OF ASSESSEE, EXHIBIT NO.45 9. PHOTOCOPY OF INCOME TAX RETURN FOR THE ASST. YE AR 2003-04, THE YEAR IN WITCH SHARE PURCHASED. EXHIBIT NO.46 TO 47. CONVERSION OF PHYSICAL SHARES INTO DEMAT AFTER GETTING DELIVERIES OF SHARE THE ASSESSEE DE POSITED THESE SHARE INTO STOCK HOLDING CORPORATION OF INDIA FOR D -MATERIALIZATION OF THESE PHYSICAL SHARE, AND SAME HAS BEEN D-MATERIALI ZED INTO DEMAT A/C NO. DPID IN 301276, CLIENT ID NO, 30296849. THE TRA NSACTION STATEMENT OF STOCK HOLDING CORPORATION OF INDIA IS ALSO ENCLO SE HEREWITH FOR YOUR KIND PERUSAL. II. DETAIL OF SALE OF SHARES :- ON 17/11/2003, ASSESSEE HAS SOLD THE 12000 EQUITY SHARE OF M/S BETALA GLOBLE SECURITIES LTD. THROUGH M/S GOLD STAR INVEST PRIVATE LIMITED. M/S GOLD STAR INVEST PRIVATE LIMITED IS A DEALER OF INTERCONNECTED STOCK EXCHANGE OF INDIA LTD./ SUB BR OKER OF N.S.C. MEMBER. THIS IS REGISTERED UNDER SEBI & ITS REGISTR ATION NO. IS 230932431. THE DETAIL OF SALE ARE AS UNDER :- BILL NO. DATE SETTLEME NT NO. CONTR ACT NOTE NO. NO. OF SHAR E AMOUNT NET OF BROKERA GE SERVI CE TAX TRANS. CHAR GES NET AMOUNT CC/20032 22/4 17/11/2003 2003222 723 2000 1436400 288 43.6 4 143596 8.36 8 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 THE DETAIL OF SALE TRANSACTION IN STOCK EXCHANGE A RE AS UNDER :- CONTRAC T NO. SETTLEMENT NO. ORDER NO. TRADE NO. TRADE TIME QTY OF SHARE NET RATE AFTER BROKERAGE 723 17/11/2003 2214089 1945181 11:25:10 500 119.70 723 17/11/2003 2216108 1946015 11:35:15 800 119.70 723 17/11/2003 2218156 1947109 11:40:20 1000 119.70 723 17/11/2003 2218679 1947615 11:43:25 1200 119.70 723 17/11/2003 2221048 1950613 11:45:27 1300 119.70 723 17/11/2003 2222041 1951506 11:47:29 900 119.70 723 17/11/2003 2222305 1951650 11:50:33 700 119.70 723 17/11/2003 2223450 1952035 11:53:35 1500 119.70 723 17/11/2003 2224510 1953152 11:55:37 1400 119.70 723 17/11/2003 2225618 1954503 12:10:05 1600 119.70 TOTAL 12000 EQUITY SHARE OF BETALA GLOBLE WERE SOLD BY THE ASSESSEE FOR RS.1435968/- THROUGH M/S GOLD STAR INVEST PVT. LTD. DETAIL OF SALE CONSIDERATION RECEIVED AGAINST SALE OF SHARES :- THE ASSESSEE HAS RECEIVED RS.1432522.36 THROUGH DD (NET OF DD CHARGES OF RS 3446/-) DETAIL OF WHICH ARE AS UNDER - DD NO. DD DATE AMOUNT BANK DD PRESENTED ON DD CLEARED ON BANK A/C NO. 057448 21/11/2003 532522.36 INDIAN OVERSEAS BANK 25/11/2003L 27/11/ 2003 01190/003942 057429 21/11/2003 900000.00 INDIAN OVERSEAS BANK 25/11/2003 27/1 1/ 2003 01190/003942 THE SHARE OF BETALA GLOBAL SECURITIES LTD. WERE AVA ILABLE IN D-MAT A/C DPID IN 301276, CLIENT ID A/C NO. 30296849 OF STOCK HOLDING 9 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 CORPORATION OF INDIA LTD., WHICH WERE BEING ISSUED FOR SALE ON DATED 19/11/2003 FOR MARKET TRADE AS PER DELIVERY INSTRUC TIONS BY CLIENT, SLIP SERIAL NO. 560120/221331, THE DETAIL OF TRANSFER TR ANSACTION ARE AS UNDER. CM-BP ID/ DP ID IN 300095 CLIENT ID 10680195 ISIN INE 658E 01019 WE ARE ALSO ENCLOSING HEREWITH THE PHOTOCOPY OF D ELIVERY INSTRUCTION SLIP OF DATED 19/11/2003. TOTAL SALE CONSIDERATION OF 12000 EQUITY SHARES W ERE DEPOSITED/ CREDITED INTO STATE BANK OF BIKANER & JAIPUR, FATEH PURA BRANCH, UDAIPUR ON DATED 27/11/2003. WE ARE ALSO ENCLOSE HEREWITH THE FOLLOWING FOR EV IDENCE OF THE ABOVE MENTIONED SALE & RECEIPT TRANSACTION. 1. CONTRACT NOTE NO. 723 DATED 17/11/2003, E XHIBIT NO.49 TO 50. 2. SALE BILL NO. CC/2003/222/4 DATED 17/11/2 003 OF M/S GOLD STAR INVEST PVT. LTD, EXHIBIT NO. 51 TO 52. 3. COPY OF D.D. NO. 057448 & 057449 OF INDIA N OVERSEAS BANK, EXHIBIT NO.53. 4. COPY OF PAY IN SLIP OF STATE BANK OF BIKA NER & JAIPUR, FATEHPURA BRANCH, UDAIPUR, EXHIBIT NO.54. 5. COPY OF BANK A/C OF THE ASSESSEE IN STATE BANK OF BIKANER & JAIPUR, FATEHPURA BRANCH, UDAIPUR, WHERE THE SALE R EALIZATION HAS BEEN DEPOSITED, EXIBIT NO.55 TO 56. 6. COPY OF BANK BOOK IN THE BOOKS OF ASSESSE E, EXIBIT NO.57. 7. COPY OF LEDGER A/C OF M/S BETALA GLOBLE L TD. IN THE BOOKS OF ASSESSEE, EXHIBIT NO.58. 10 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 8. PHOTOCOPY OF INCOME TAX RETURN FOT THE A. Y. 2004-05, THE YEAR IN WHICH SHARE WERE SOLD, EXIBIT NO.59 TO 61. 9. DEMAT A/C SLIP WHICH PROVES THAT SHARE HA S BEEN SOLD, EXHIBIT NO. 62. IN THE PRESENT SCENARIO THE ASSESSEE HAS ESTABLIS HED THE FACT THAT THE SHARES WERE THERE PHYSICAL AS WELL AS IN DEMAT A/C. IT IS NOT MATERIAL WHETHER THE PURCHASE OF SHARE WAS OUTSIDE FLOOR OF STOCK EXCHANGE. THE ASSESSEE MAINTAINS BOOKS OF A/C AND CLEARLY REFLECT ED THE PURCHASE OF THESE SHARES IN BOOKS OF A/C AS WELL AS IN THE RETU RN OF INCOME FILED BY ASSESSEE IN IT DEPARTMENT PRECEDING THE PREVIOUS YE AR UNDER CONSIDERATION. THEREFORE THERE IS NO QUESTION AT AL L THAT THE PURCHASE TRANSACTION OF THESE SHARE ARE NOT GENUINE. THE ASS ESSEE PRODUCED ALL THE DOCUMENTS TO PROVE THE GENUINENESS OF ALL THESE PUR CHASE TRANSACTIONS. SINCE, THE ADDITION MADE BY LD. AO IS PERFECTLY UNJ USTIFIABLE AND DESERVES TO BE DELETED. IN A NUT SHELL AT THE OUTSET THE APPELLANT RESPECTFULLY SUBMITS THAT THE IMPUGNED ORDER OF ASSESSMENT, IS SO FAR AS IT PERTAINS TO TH E ESTIMATED ADDITION TOWARDS LOW HOUSEHOLD EXPENSES IS WHOLLY INCORRECT IN LAW AS WELL AS ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND AS SUCH THE SAME IS LIABLE TO BE DELETED FOR THIS REASON ITSELF. THE APPELLANT RESPECTFULLY STATES THA T THE OBSERVATIONS AND / OR FINDINGS GIVEN BY THE ASSESSING OFFICER ARE TOTALLY HYPOTHETICAL, FICTITIOUS, ARBITRARY, MALAFIDE AND UNSUSTAINABLE IN LAW AS WEL L AS FACTS OF THE CASE. THE ASSESSING OFFICER HAS NOT CONSIDERE D THE ADMISSIONS AND CONFESSIONS OF THE APPELLANT IN THEIR ENTIRETY BUT INTERPRETED THE STATEMENTS ON PICK AND CHOOSE BASIS WHILE MAKING TH E ADDITIONS TO THE RETURNED INCOME OF THE APPELLANT. THE APPELLANT, TH EREFORE, SUBMITS THAT THE ADDITIONS MADE ON PICK AND CHOOSE BASIS ARE UNS USTAINABLE IN LAW AND LIABLE TO BE DELETED. IN VIEW OF THE FOREGOING GROUNDS OF DEF ENSE, THE APPELLANT VERY HUMBLY PRAYS TO YOUR HONOR TO KINDLY QUASH THE ADDI TION MADE ABOVE. 11 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 WE HOPE THAT YOUR GOOD SELF WILL FIND OUR ABOVE SUB MISSIONS IN ORDER. WE SHALL BE PLEASED TO SUBMIT OUR FURTHER CLARIFICA TION ON HEARING FROM YOU. 5. AFTER CONSIDERING THE ABOVE FACTUAL MATRIX CLAIM ED BY THE ASSESSEE, THE LD. CIT(A) HAS REJECTED THE CONTENTION BY RELYING ON TH E SAME REASONING AS WAS TAKEN BY THE A.O. NOW THE ASSESSEE IS IN SECOND APPEAL. 6. SIMILAR ISSUE WAS DECIDED IN THE CASE OF SMT. NI RUPARA PATHAN AND OTHERS BY THIS BENCH IN ITA NOS.345, 346, 357 & 358/JODH/2007 , ORDER DATED 28.06.2013, A COPY OF WHICH IS ENCLOSED ON RECORD. 7. WE HAVE HEARD THE RIVAL SUBMISSIONS AND CAREFULL Y PERUSED THE ENTIRE RECORDS. BOTH THE PARTIES HAVE REITERATED THEIR EA RLIER ARGUMENTS BEFORE US ALSO. AFTER CONSIDERING THEM, WE HAVE FOUND THAT ALL THES E TRANSACTIONS OF PURCHASE ARE ENTERED IN THE PRECEDING YEARS ACCOUNTS AND ARE AL SO APPEARING IN THE BOOKS OF ACCOUNTS OF THE ASSESSEE IN THIS YEAR INCLUDING THE BALANCE SHEET FILED ALONG WITH THE RETURN OF INCOME. FROM A PERUSAL OF THE BALANC E SHEET AS ON 31.03.2003 IT BECOMES CLEAR THAT THE PURCHASE OF SHARES STANDS PR OVED. THE TRANSACTIONS WERE ENTERED AND DULY SHOWN IN A.Y. 2003-04 WHICH CANNOT BE DENIED IN THE A.Y. 2004- 05. THUS, PURCHASE AND INVESTMENT IN SHARES STANDS PROVED ON RECORD. THE 12 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 STATEMENT OF SHRI MUKESH CHOWKSI AND OTHER EVIDENCE ON WHICH THE A.O. AND THE LD. CIT(A) HAVE RELIED WERE GATHERED AND COLLECTED BEHIND THE BACK OF THE ASSESSEE AND HE HAS NOT GIVEN ANY OPPORTUNITY TO CROSS-EXAMI NE THEM. ANY EVIDENCE COLLECTED AT THE BACK OF THE ASSESSEE AND WHICH REM AIN UNCONTROVERTED CANNOT BE USED AS EVIDENCE AGAINST THAT PERSON. THEREFORE, T HE PURCHASE AND SALE OF SHARES AS INVESTMENT STANDS PROVED ON RECORD AND WE FIND MERI T IN THE SUBMISSION OF THE ASSESSEE WHICH IS EXTRACTED IN THE FORMER PART OF T HIS ORDER. THE AFFIDAVITS WHICH ARE DULY SWORN IN AND FILED FROM THE PARTIES ALSO S UPPORT THE ASSESSEES CASE. THE TRANSFER OF SHARES IS EXHIBITED ON RECORD AND THIS FACT HAS NOT BEEN DENIED BY THE REVENUE. THEREFORE, IN THE TOTALITY OF THE ABOVE F ACTS AND CIRCUMSTANCES OF THIS CASE, WE DO NOT HESITATE IN ALLOWING THE SOLE GROUN D RAISED IN THIS APPEAL. THE IMPUGNED ADDITION MADE BY THE A.O. AND CONFIRMED BY THE LD. CIT(A) STANDS DELETED. 8. IN THE RESULT, APPEAL OF THE ASSESSEE IN ITA NO. 153/JODH/2011 IN THE CASE OF SHRI MURLI DHAR SONI IS ALLOWED. ITA NO.154/JODH/2011 IN THE CASE OF SHRI KAILASH C HANDRA SONI 13 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 9. THIS APPEAL OF THE ASSESSEE SHRI KAILASH CHAND S ONI IS DIRECTED AGAINST THE ORDER OF LD. CIT(A), JAIPUR DATED 19.01.2011. IN T HIS APPEAL ALSO SIMILAR ISSUE IS INVOLVED. THE REJECTION OF THE CLAIM OF ASSESSEE R EGARDING LTCG IS BASED ON SOME OF SIMILAR EVIDENCE AS WAS IN THE CASE OF SHRI MURL I DHAR SONI HEREIN AS ABOVE. IN THIS CASE THE SUBMISSION OF THE ASSESSEE IS AS UNDE R :- 2.1 THE ASSESSEE HAS MADE THE FOLLOWING SUBMISSI ONS:- INVESTMENT IN SHARES & CLAIM OF LTCG/STCG DURING THE YEAR UNDER CONSIDERATION ASSESSEE HAS CLAIMED TO HAVE EARNED LONG TERM CAPITAL GAIN OF RS.14,02,688/ - ON SALE OF 12000 SHARES OF BETALA GLOBAL LTD., WHICH WAS UTILIZED FO R CONSTRUCTION OF HOUSE AT NEW AHINSAPURI, UDAIPUR. DUE TO CONSTRUCTI ON OF HOUSE, THE WHOLE LONG TERM CAPITAL GAIN EARNED WAS EXEMPT U/S 54F OF IT ACT, 1961. 2.2 THE APPELLANT SUBMITTED THAT HE HAS MADE FO LLOWING SUBMISSIONS BEFORE A.O. WHICH HAS NOT BEEN CONSIDERED BY A.O. FOR YOUR VERIFICATION, WE ARE PROVIDING HEREWITH THE DETAILED WORKING WITH DOCUMENTARY EVIDENCES AS UNDER:- I. DETAIL OF PURCHASE OF SHARE :- DURING THE FINANCIAL YEAR RELEVANT TO A.Y. 2003-0 4 THE ASSESSEE HAS PURCHASED 12000 EQUITY SHARES OF BETALA GLOBLE SECURITIES LTD. FROM M/S SHILPA SHARES AND SECURITIES LTD., A MEMBER OF NATIONAL STOCK EXCHANGE OF INDIA LTD. (NSEIL), MUMBAI FOR WITCH SE BI REG. NO. IS INB -230662822 AND CODE NO. IS 06628. THE DETAIL OF SHARE PURCHASE ARE AS UNDER :- 14 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 B.NO. DATE SETTLE MENT NO. CONTRACT NOTE NO. NO. OF SHARES AMOUNT M008/0024 03.04.2002 008 M008/001 4000 8420 M009/0017 04.04.2002 009 M009/001 4000 9420 M011/0021 08.04.2002 011 M011/001 4000 10020 TOTAL 12000 27860 TOTAL OF NO. OF 12000 EQUITY SHARE WERE PURCHASE BY THE ASSESSEE FOR RS 27860/- DURING THE FINANCIAL YEAR 2002-03 IN THE NAME OF ASSESSEE HIMSELF FROM SHILPA SHARES AND SECURITIES LTD. FURTHER DETAIL OF SHARES ARE AS UNDER :- NAME OF SHARE REGD. FOLIO NO. CERTIFICATE NO. PAID UP VALUE NO. OF SHARE DIST. NO. BETALA GLOBLE LTD. 010081 00040228 10/- PER SHARE 6000 2999601- 3005600 3005601- 3011600 TOTA L 12000 DETAIL OF PAYMENT MADE AGAINST PURCHASE OF SHARES THE ASSESSEE PAID RS.27860/- TO SHILPA SHARES AND S ECURITIES LTD. IN TWO INSTALLMENT, THE DETAIL THERE OF ARE AS UNDER :- RECEIPT NO. DATE OF PAYMENT AMOUNT 157 10/04/2002 13000 164 11/04/2002 14860 15 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 FOLLOWING DOCUMENTS ENCLOSED TO PROVE THE ABOVE TRANSACTION FOR YOUR KIND PERUSAL :- 1. CONTRACT NOTE NO. M 008/001, M009/001 AND M011 /001, EXHIBIT NO.30 TO 32. 2. PURCHASE BILL NO. M008/0024, M009/0017 AND M01 1/0021, EXHIBIT NO.33 TO 35. 3. COPY OF LEDGER IN THE BOOKS OF ASSESSEE, EXHIB IT NO.36 TO 37. 4. COPY OF CASH BOOK IN THE BOOKS OF ASSESSEE EXH IBIT NO.38. 5. COPY OF LEDGER ACCOUNT OF THE ASSESSEE IN THE BOOKS OF M/S SHILPA SHARES AND SECURITIES LTD, EXHIBIT NO.39. 6. COPY OF RECEIPT NO. 157 DATED 10/04/2002 AND R ECEIPT NO. 164 DATED 11/04/2002, EXHIBIT NO.40. 7. PHOTOCOPY OF SHARE CERTIFICATE ISSUED IN THE NA ME OF ASSESSEE, EXHIBIT NO.41 TO 42. 8. PHOTO COPY OF INCOME TAX RETURN FOR THE ASST. YEAR 2003-04, THE YEAR IN WHICH SHARE PURCHASED, EXHIBIT NO.43 TO 44. 9. COPY OF STATEMENT OF DEMAT A/C OF STOCK HOLDING CORPORATION IN THE NAME OF ASSESSEE, EXHIBIT NO.45 TO 46. CONVERSION OF PHYSICAL SHARES INTO DEMAT AFTER GETTING DELIVERIES OF SHARE THE ASSESSEE DE POSITED THESE SHARE INTO STOCK HOLDING CORPORATION OF INDIA FOR D -MATERIALIZATION OF THESE PHYSICAL SHARE, AND SAME HAS BEEN D-MATERIALI ZED INTO DEMAT A/C NO. DPID IN 301276, CLIENT ID NO, 30295924, THE TRA NSACTION STATEMENT OF STOCK HOLDING CORPORATION OF INDIA IS ALSO ENCLO SING HEREWITH FOR YOUR KIND PERUSAL. DETAIL OF SALE OF SHARES :- 16 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 ON 18/11/2003, ASSESSEE HAS SOLD THE 12000 EQUITY SHARE OF M/S BETALA GLOBLE SECURITIES LTD. THROUGH M/S GOLD STAR INVEST PRIVATE LIMITED. M/S GOLD STAR INVEST PRIVATE LIMITED IS A DEALER OF INTERCONNECTED STOCK EXCHANGE OF INDIA LTD./ SUB BR OKER OF N.S.C. MEMBER. THIS IS REGISTERED UNDER SEBI & ITS REGISTR ATION NO. IS 230932431. THE DETAIL OF SALE ARE AS UNDER :- BILL NO. DATE SETTLEME NT NO. CONTR ACT NOTE NO. NO. OF SHAR E AMOUNT NET OF BROKERA GE SERVI CE TAX TRANS. CHAR GES NET AMOUNT CC/20032 23/5 18/11/2003 20033223 728 12000 1434420 288 143.44 1433988.56 THE DETAIL OF SALE TRANSACTION IN STOCK EXCHANGE A RE AS UNDER :- CONTRAC T NO. SETTLEMENT NO. ORDER NO. TRADE NO. TRADE TIME QTY OF SHARE NET RATE AFTER BROKERAGE 728 18/11/2003 7354117 5625788 11:48:21 800 119.85 728 18/11/2003 7355866 5626958 11:53:27 900 119.85 728 18/11/2003 7356358 5627410 11:55:29 1200 119.80 728 18/11/2003 7356789 5627968 11:56:48 500 119.80 728 18/11/2003 7357315 5628254 11:58:49 1000 119.85 728 18/11/2003 7358254 5629254 11:59:34 700 119.85 728 18/11/2003 7359526 5631170 12:01:47 1300 119.85 728 18/11/2003 7363541 5632658 12:04:19 900 119.80 728 18/11/2003 7364256 5633417 12:07:49 1100 119.85 728 18/11/2003 7366856 5635624 12:09:43 500 119.75 TOTAL 12000 EQUITY SHARE OF BETALA GLOBLE WERE SOLD BY THE ASSESSEE FOR RS.1434420/- THROUGH M/S GOLD STAR INVEST PVT. LTD. DETAIL OF SALE OF SHARES ENCLOSED VIDE EXHIBIT NO.48 TO 50 DETAIL OF SALE CONSIDERATION RECEIVED AGAINST SALE OF SHARES :- 17 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 THE ASSESSEE HAS RECEIVED RS.1430547.56 THROUGH DD (NET OF DD CHARGES OF RS. 3441/-) DETAIL OF WHICH ARE AS UNDER - DD NO. DD DATE AMOUNT BANK DD PRESENTED ON DD CLEARED ON BANK A/C NO. 057359 02/12/2003 900000.00 INDIAN OVERSEAS BANK 04/12/2003 05/12/ 2003 3870 057361 02/12/2003 530547.56 INDIAN OVERSEAS BANK 04/12/2003 05/12/ 2003 3870 THE SHARE WERE TRANSFERRED ON AT 19-11-03 VIDE CLIE NT ID A/C NO.30295924 OF STOCK HOLDING CORPORATION OF INDIA L IMITED. THE DETAILS OF TRANSFER TRANSACTION ARE AS UNDER:- CM-BP ID/ DP ID IN 301276 CLIENT ID 30295924 WE ARE ALSO ENCLOSING HEREWITH THE PHOTOCOPY OF D ELIVERY INSTRUCTION SLIP OF DATED 19/11/2003. TOTAL SALE CONSIDERATION OF 12000 EQUITY SHARES W ERE DEPOSITED/ CREDITED INTO PUNJAB NATIONAL BANK, KALAJI GORAJI B RANCH, UDAIPUR ON DATED 04/12/2003. WE ARE ALSO ENCLOSE HEREWITH THE FOLLOWING FOR EV IDENCE OF THE ABOVE MENTIONED SALE & RECEIPT TRANSACTION. 1. CONTRACT NOTE NO.728 DATED 18/11/2003, EX HIBIT NO.47 TO 48. 2. SALE BILL NO.CC/2003/223/5 DATED 18/11/20 03 OF M/S GOLD STAR INVEST PVT. LTD, EXHIBIT NO.49 TO 50. 3. COPY OF D.D. NO. 057359 & 057361 OF INDIA N OVERSEAS BANK, EXHIBIT NO.51. 18 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 4. COPY OF PAY IN SLIP OF PUNJAB NATIONAL BA NK, KALAJI GORAJI BRANCH, UDAIPUR, EXHIBIT NO.52. 5. COPY OF BANK A/C OF THE ASSESSEE IN PUNJA B NATIONAL BANK, KALAJI GORAJI BRANCH, UDAIPUR, WHERE THE SALE REALIZATION HAS BEEN DEPOSITED, EXIBIT NO.53 TO 54. 6. COPY OF BANK BOOK IN THE BOOKS OF ASSESSE E, EXIBIT NO.55 TO 57. 7. COPY OF LEDGER A/C IN THE BOOKS OF ASSESS EE. EXHIBIT NO.58. 8. PHOTOCOPY OF INCOME TAX RETURN FOR THE A. Y. 2004-05, THE YEAR IN WHICH SHARE WERE SOLD, EXHIBIT NO.59 TO 61. 9. DEMAT A/C SLIP WHICH PROVES THAT SHARE HA S BEEN SOLD, EXHIBIT NO. 62.' IN THE PRESENT SCENARIO THE ASSESSEE HAS ESTABLIS HED THE FACT THAT THE SHARES WERE THERE PHYSICAL AS WELL AS IN DEMAT A/C. IT IS NOT MATERIAL WHETHER THE PURCHASE OF SHARE WAS OUTSIDE FLOOR OF STOCK EXCHANGE. THE ASSESSEE MAINTAINS BOOKS OF A/C AND CLEARLY REFLECT ED THE PURCHASE OF THESE SHARES IN BOOKS OF A/C AS WELL AS IN THE RETU RN OF INCOME FILED BY ASSESSEE IN IT DEPARTMENT PRECEDING THE PREVIOUS YE AR UNDER CONSIDERATION. THEREFORE THERE IS NO QUESTION AT AL L THAT THE PURCHASE TRANSACTION OF THESE SHARE ARE NOT GENUINE. THE ASS ESSEE PRODUCED ALL THE DOCUMENTS TO PROVE THE GENUINENESS OF ALL THESE PUR CHASE TRANSACTIONS. SINCE, THE ADDITION MADE BY LD. AO IS PERFECTLY UNJ USTIFIABLE AND DESERVES TO BE DELETED. IN A NUT SHELL AT THE OUTSET THE APPELLANT RESPECTFULLY SUBMITS THAT THE IMPUGNED ORDER OF ASSESSMENT, IS SO FAR AS IT PERTAINS TO TH E ESTIMATED ADDITION TOWARDS LOW HOUSEHOLD EXPENSES IS WHOLLY INCORRECT IN LAW AS WELL AS ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND AS SUCH THE SAME IS LIABLE TO BE DELETED FOR THIS REASON ITSELF. THE APPELLANT RESPECTFULLY STATES THA T THE OBSERVATIONS AND / OR FINDINGS GIVEN BY THE ASSESSING OFFICER ARE TOTALLY HYPOTHETICAL, FICTITIOUS, 19 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 ARBITRARY, MALAFIDE AND UNSUSTAINABLE IN LAW AS WEL L AS FACTS OF THE CASE. THE ASSESSING OFFICER HAS NOT CONSIDERE D THE ADMISSIONS AND CONFESSIONS OF THE APPELLANT IN THEIR ENTIRETY BUT INTERPRETED THE STATEMENTS ON PICK AND CHOOSE BASIS WHILE MAKING TH E ADDITIONS TO THE RETURNED INCOME OF THE APPELLANT. THE APPELLANT, TH EREFORE, SUBMITS THAT THE ADDITIONS MADE ON PICK AND CHOOSE BASIS ARE UNS USTAINABLE IN LAW AND LIABLE TO BE DELETED. IN VIEW OF THE FOREGOING GROUNDS OF DEF ENSE, THE APPELLANT VERY HUMBLY PRAYS TO YOUR HONOR TO KINDLY QUASH THE ADDI TION MADE ABOVE. WE HOPE THAT YOUR GOOD SELF WILL FIND OUR ABOVE SUB MISSIONS IN ORDER. WE SHALL BE PLEASED TO SUBMIT OUR FURTHER CLARIFICA TION ON HEARING FROM YOU. 10. EXCEPT ABOVE SUBMISSION WHICH DETAILS THE DATES OF PURCHASE AND SALE OF SHARES ETC. ALL OTHER FACTS ARE ALMOST IDENTICAL. BOTH THE PARTIES HAVE TAKEN SIMILAR STAND. THEREFORE, WE ALLOW THIS APPEAL AND ODER TO DELETE THE IMPUGNED ADDITION. 11. IN THE RESULT, APPEAL OF THE ASSESSEE IN ITA NO .154/JODH/2011 IN THE CASE OF SHRI KAILASH CHANDRA SONI IS ALLOWED. ITA NO.155/JODH/2011IN THE CASE OF SHRI CHAND MAL S ONI 12. THIS APPEAL OF SHRI CHAND MAL SOLI IS DIRECTED AGAINST THE ORDER OF LD. CIT(A), JAIPUR DATED 19.01.2011. 20 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 13. THE GROUNDS RAISED IN THIS APPEAL READS AS UNDE R :- 1. THE LD. AUTHORITIES BELOW HAS GROSSLY ERRED IN DISALLOWING THE CLAIM OF LONG TERM CAPITAL GAIN & SHORT TERMS CAPIT AL GAIN AMOUNTING TO RS.584996/- AND MAKING & CONFIRMING THE ADDITION OF INVESTMENTS MADE IN SHARES AND CLAIM OF LONG TERM CAPITAL GAIN/ SHORT TERM CAPITAL GAIN. 14. THE FACTS, EVIDENCE AND DOCUMENTS OF THE PARTIE S IN THIS CASE ALSO ARE EXACTLY IDENTICAL TO THE ABOVE CASES EXCEPT FOR THE AMOUNT OF LTCG ETC. CLAIMED, ALL OTHER FACTS ARE EXACTLY SIMILAR. FOR READY REFERENCE, WE EXTRACT THE DETAILS OF THE CLAIM OF THE LTCG AS UNDER:- 2.2 THE ASSESSEE HAS MADE THE FOLLOWING SUBMISSI ONS BEFORE A.O.:- LONG TERM CAPITAL GAIN I. DETAIL OF PURCHASE OF SHARE :- DURING THE FINANCIAL YEAR RELEVANT TO A.Y. 2002-0 3 THE ASSESSEE HAS PURCHASED 7000 EQUITY SHARES OF M/S BUNIYAD CHE MICALS FROM M/S GOLD STAR FINVEST PVT. LTD., A DEALER OF INTERCONNE CTED STOCK EXCHANGE OF INDIA LIMITED SUB BROKER OF NSC MEMBER, MUMBAI F OR WHICH SEBI REG. NO.230932431. THE DETAIL OF SHARE PURCHASE ARE AS UNDER :- B.NO. DATE SETTLEMENT NO. CONTRACT NOTE NO. NO. OF SHARES AMOUNT CC/2001/023/ 9(N)22 12.06.2001 2001023 122 7000 4585.46 21 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 FURTHER DETAIL OF SHARES WHEN PURCHASED :- NAME OF SHARE ORDER NO. TRADE NO. NO. OF SHARE PURCHASE RATE BROKERA GE AMOUNT BUNIYAD CHEMICALS 5099562 55121 2300 0.55 0.10 1495/- BUNIYAD CHEMICALS 5099562 56231 2700 0.55 0.10 1755/- BUNIYAD CHEMICALS 5099562 56784 2000 0.55 0.10 1300/- TOTAL 7000 4550/- DETAIL OF PAYMENT MADE AGAINST PURCHASE OF SHARES THE ASSESSEE PAID RS.4585.46/- TO M/S GOLD INVEST P VT. LT. ON DATED 13.06.2001 AGAINST THE PURCHASE BILL NO.CC/2001/023 /09 DATED 12.06.2001 FOR 7000 EQUITY SHARES OF BUNIYAD CHEMIC ALS LTD.:- FOLLOWING DOCUMENTS ENCLOSED TO PROVE THE ABOVE TRA NSACTION FOR YOUR KIND PERUSAL :- 1. CONTRACT NOTE OF PURCHASE OF SHARES. 2. PURCHASE BILL OF SHARES 3. COPY OF LEDGER A/C OF THE ASSESSEE IN THE BOOKS OF M/S GOLD STAR FINVEST PVT. LTD. 4. COPY OF RECEIPT OF PAYMENT TO M/S GOLD STAR FIN VEST PV.T LTD. 5. PHOTOCOPY OF INCOME TAX RETURN FOR THE ASST. YEA R 2002-03, THE YEAR IN WHICH SHARE PURCHASED. 6. COPY OF STATEMENT OF DEMAT A/C OF ICICI BANK IN THE NAME OF ASSESSEE. DETAIL OF SALE OF SHARES (LONG TERM CAPITAL GAIN) : - ON 16/07/2003, ASSESSEE HAS SOLD THE 7000 EQUITY SH ARES OF M/S BUNIYAD CHEMICALS THROUGH M/S GOLD STAR FINVEST PVT LTD, IS A DEALER OF INTERCONNECTED STOCK EXCHANGE OF INDIA LTD./SUB BRO KER OF NSC MEMBER. 22 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 THIS IS REGISTERED UNDER SEBI & ITS REGISTRATION NU MBER IS 230932431. THE DETAIL OF SALE ARE AS UNDER :- BILL NO. DATE SETTLEME NT NO. CONTR ACT NOTE NO. NO. OF SHAR E AMOUNT NET OF BROKERA GE SERVI CE TAX TRANS. CHAR GES NET AMOUNT CC/2003/1 36/3 16/07/2003 2003136 315 7000 537250 140 53.73 537056.27 THE DETAIL OF SALE TRANSACTION IN STOCK EXCHANGE A RE AS UNDER :- CONTRAC T NO. SETTLEMENT NO. ORDER NO. TRADE NO. TRADE TIME QTY OF SHARE NET RATE AFTER BROKERAGE 315 16/07/2003 5374152 254125 13:25:23 1200 76. 75 315 16/07/2003 5374152 254137 13:25:48 800 76.75 315 16/07/2003 5376652 258974 13:28:45 900 76.75 315 16/07/2003 5376652 258995 13:29:10 600 76. 75 315 16/07/2003 5376652 259021 13:29:45 500 76.75 315 16/07/2003 5414512 305124 14:01:25 1000 76.75 315 16/07/2003 5432125 315263 14:06:23 750 76.75 315 16/07/2003 5432125 315302 14:06:57 800 76.75 315 16/07/2003 5432125 315325 14:07:14 450 76.75 TOTAL 7000 EQUITY SHARE OF BUNIYAD CHEMICAL WERE SO LD BY THE ASSESSEE FOR RS.537056.27 THROUGH M/S GOLD STAR FINVEST PVT . LTD. DETAIL OF SALE CONSIDERATION RECEIVED AGAINST SALE OF SHARES :- THE ASSESSEE HAS RECEIVED RS.535765/- THROUGH DD ( NET OF DD CHARGES OF RS.1291/-) DETAIL OF WHICH ARE AS UNDER - 23 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 DD NO. DD DATE AMOUNT BANK DD PRESENTED ON DD CLEARED ON BANK A/C NO. 056296 17/07/2003 535765 INDIAN OVERSEAS BANK 19/07/2003 21/07/20 03 004501017425 THEREFORE ON THE BASIS OF AVAILABLE DOCUMENTS & EVI DENCES, IT IS PROVED THAT FOLLOWING TRANSACTION HAVE BEEN UNDERTAKEN IN THE NAME OF ASSESSEE :- 1. PURCHASE OF SHARES 2. SALE OF SHARES 3. DEPOSIT OF SALES REALIZATION OF SHARES INTO BANK A/C OF THE ASSESSEE. ALL THE ABOVE DOCUMENTS & EVIDENCES CLEARLY SPEAKS ABOUT THE GENUINENESS OF ABOVE TRANSACTIONS. IT IS ALSO WORTHWHILE TO MENTION HERE THAT ASSESSEE HAS DISCLOSED RS.532471/- IN HIS RETURN OF INCOME AND PAID FULL T AX ON LONG TERM CAPITAL GAIN. THIS CLEARLY SHOWS THAT ASSESSEE HAS NO INTENSION TO CONCEAL THE PARTICULAR OF HIS INCOME. 15. THEREFORE, WITH SIMILAR VIEW, WE ORDER TO DELET E THE IMPUGNED ADDITION AND ALLOW THIS APPEAL ALSO. 16. IN THE RESULT, APPEAL OF THE ASSESSEE IN ITA NO .155/JODH/2011 IN THE CASE OF SHRI CHAND MAL SONI IS ALLOWED. 24 ITA NOS.153, 154 & 155/JODH/2011 A.YS. 2004-05 17. TO SUM UP, ALL THE THREE APPEALS OF THE THREE D IFFERENT ASSESSEES IN ITA NOS.153, 154 & 155/JODH/2011 ARE ALLOWED. (ORDER PRONOUNCED IN THE OPEN COURT ON 29.11.201 3) SD/- SD/-/- (N.K. SAINI) (HARI OM MARATHA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 29 TH NOVEMBER, 2013 PBN/* COPY OF THE ORDER FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT (APPEALS) CONCERNED 4. CIT CONCERNED 5. D.R., ITAT, JODHPUR BENCH, JODHPUR 6. GUARD FILE. BY ORDER ASSISTANT REGISTRAR INCOME-TAX APPELLATE T RIBUNAL, JODHPUR