Share Broking Limited, Depository Participant of Central
Depository Services (I) Ltd. for dematerializing the said
shares and giving credit of the same in the demat ... Share Broking
Limited on receipt of the said shares for dematerialization and a
copy of duly filled Dematerialisation Request Form are enclosed at
pages
fact called for and examined by
the AO. The shares were dematerialized in due course of time. The purchase price stood
proved by the fact ... What is equally important is the date
on which the shares were dematerialized. This is as no transaction could be carried out in
listed shares
further note that all these 15000 shares of BPL have been
Dematerialized in the Demat A/c No.130208000004178 with Bank
of India, Andheri ... pertinent to note that when the shares in
question are Dematerialized and recorded in Demat account of
the assessee on 23/5/2003 then
They have also not declared
dividends.
(o) At the time of dematerialization, the assessees have to produce
Purchase bills, payment details, service tax details ... service tax
payment details, broker books of account at the time of dematerialization.
The said submissions do not appear to be correct
income filed for assessment year 2003-04. Those shares were also
dematerialized and credited to the Demat account of the assessee and were
sold ... which was filed on 22/9/2003.
These shares were dematerialized and accordingly, credited to the Demat
account of the assessee on 28/07/2003
They have also not declared
dividends.
(o) At the time of dematerialization, the assessees have to produce
Purchase bills, payment details, service tax details ... service tax
payment details, broker books of account at the time of dematerialization.
The said submissions do not appear to be correct
available on record
was that the appellant has got the impugned shares
dematerialized with NSDL on 4.4.2002. There was no
information of any sort ... year 2001 but in the year
2002, when the shares were dematerialized on 04.04.2002 and
were sold in June, 2002. The purchase price is also
Bombay High Court and stay was on transfer of
shares, dematerialization could not be effected. The bank referred the
case to broker who had acted
note were submitted. The Assessing Officer noted that the
shares were dematerialized and credited in demat account of
assessee only in the month of November
further states that as per investigation
made, these shares were sent for dematerialization to HDFC Bank on 03-05-2004
and were converted into
