Genuine Finance Pvt. Ltd., Ahmedabad vs The Dcit, Circle-2(1)(1), Ahmedabad on 28 October, 2022
5. The Ld. A.R. submitted that the assessee company is dealing with share
trading as investment and during the F.Y. 2011-12 the assessee declared total
loss of Rs. 84,15,914/- and filed return of income under Section 139(1) and
Section 148. The assessee entered into transaction of Vas Infrastructure Ltd. to
its share broker on various dates from April 2010 to November 2010. The
assessee has given the details relates to the brokers as well as the transaction
was carried out through the National Stock Exchange. The Ld. A.R. relied
upon various decisions including the decision of the Tribunal in case of
Genuine Finance Pvt. Ltd. vs. DCIT (in ITA No. 221/Ahd/2021 order dated
28.102.2022) .