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1. As per the ITD information, Rajesh Gupta (HUF) is having PAN:
AAGHR9262M address at 14, Sainik Farm, Lane C-3, Khanpur, New Delhi. Further, as per ITD database, the aforesaid assesseit'filed his return of income for A.Y.2011-12 on 20.09.2011 declaring an income of Rs.10,92,630/-. The re*^n of income was processed u/s 143(1).
2. In this case, information was received from the office ADITflnv.) Unit-

1(3), Mumbai vide office letter No. ADIT(lnv.)/Unit-l(3)/DMC EDU/2017-18/1082 dated 21/03/2018 in this office on 27/03/2018. As per the information, it is gathered that M/s DMC Education Ltd. (Script name DMC Education) is a penny stock listed on BSE with Script Code (517973) and trading in this script is highly suspicious and this company has been used to facilitate introduction of unaccounted income of members of beneficiaries in the form of exempt capital gain or Short Term Capital Loss in their books of accounts. The financials of the company for the relevant period do not show any substantial change so as to support such as huge share price movement. The sharp rise in the market price of this entity is not supported by financial fundamentals of the company. Both purchase and sale of the shares are concentrated within few persons/entities. The exit providers do not have creditworthiness. They are either non-filers or have filed nominal return of income. Further, during it was also examined that that this script was also indulged in self-trading.