which is incurred while transacting
through a broker M/s. Alankit Assignements Ltd. which is registered with
the stock exchange and which is not related ... reply filed by the
appellant as regards the brokers M/s. Alankit Assignments Ltd. and M/s.
Sunchan Securities Ltd. which are registered with
after analysis of all the
incriminating seized material (in the case of Alankit Group). statement
recorded and after mandatory approval u/s 153D ... search action was carried out on Alankit Group Delhi
group on 18.10.2019. During search action, certain documents were
extracted from laptop of Sunil Kumar Gupta
after analysis of all the
incriminating seized material (in the case of Alankit Group). statement
recorded and after mandatory approval u/s 153D ... search action was carried out on Alankit Group Delhi
group on 18.10.2019. During search action, certain documents were
extracted from laptop of Sunil Kumar Gupta
conducted on 18.10.2019 in case of Alankit Group. Allegedly, in course of search and
seizure operation, certain information recovered from the laptop of Shri Alok ... Agarwal of
Alankit Group were found and seized from the residence of Shri Sunil Kumar Gupta at
Delhi. Based on the information/material gathered
common set of proceedings initiated pursuant to search
in the Alankit group cases, these appeals were heard together
and are disposed of by this consolidated ... conducted on 18.10.2019 in the cases of the Alankit Group.
During the course of post search investigation in the said group,
certain documents and electronic
assessee that
the said loss was incurred on transactions carried out through Alankit
Assignments Ltd., which is also a registered broker with National stock
exchange ... specifically pointed out that assessee had
purchased shares only through Alankit Assignments Ltd and RBK Share
Broking, another registered share broker. The assessee also placed
arising on sale of shares of M/s Alankit
Limited.
4. The facts of the issue are that the assessee declared long term capital
loss ... sale of shares of M/s Alankit Limited on the
reasoning that it is one of the penny stocks. In this regard
arising on sale of shares of M/s Alankit
Limited.
4. The facts of the issue are that the assessee declared long term capital
loss ... sale of shares of M/s Alankit Limited on the
reasoning that it is one of the penny stocks. In this regard
meanwhile, searches were
also conducted on 18.10.2019 in cases relating to Alankit
Group. The AO exercising jurisdiction in respect of o such
searched person also ... present Petition. In that
case also the searched party was the Alankit Group of
Companies, i.e. same as that of the PetPetitioner.
itioner
failed to
substantiate the genuineness of trading transactions in the scrip of Alankit
Ltd., which was identified as a penny stock used for providing
accommodation ... evidences and findings arising out of
search and investigation in the Alankit Group, which conclusively
established manipulation of share prices
