Evidence for (xi) Acknowledged Copy of request issued by HDFC Bank 26
dematerialization accepting the assessee's shares 111 physical form for
of Shares ... dematerialization.
(xii) Copy of transaction cum holding statement reflecting 27
confirmation of said demat.
Evidence for Sale (xiii) Copy of sale bill of Pruthvi Brokers
account of the
assessee and submitted that the shares were dematerialized on 18.06.2012 and
thereafter the shares were sold from 13.03.2013 onwards on various dates ... payment of
consideration through cheque at the time of allotment of shares dematerialization
of the shares and thereafter, sale of shares from
with the Stock broker M/s. BHH
Securities Pvt. Ltd, Mumbai to dematerialize the
physical shares. The shares were acquired during
August-2013 and were ... Para 10),
the number of equity shares held in dematerialized
form were 3,60,42,175 (67.04%) and in physical form
assessees namely Shri Islammudin Mansuri
has purchased the 57000 shares and dematerialized only 19000 shares. So
far as the another assessees is concerned ... Mansuri, he had
purchased 31000 shares and all the 31000 shares were dematerialized. The
A.O after examining the Demat Accounts and other material
whether the transaction had been carried out through
electronic exchange in a dematerialized form or otherwise. What was
important was the nature of capital assets ... CBDT Circular No.768 dated 24.06.1998, referred expressly
to securities held in dematerialized form, where fungibility and the
Page |8
ITA No. 7904/Mum/2025
purchase of the shares can be considered
only on the date of dematerialization and therefore the holding period
becoming less than 12 months hence ... shares traded on the NSE and BSE on the date of
dematerialization viz. `.4,41,10,775/- and treating the same as
unexplained investment
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
assessee produced
all relevant evidence to substantiate the transaction of purchase, dematerialization and sale of
shares then, in the absence of any contrary material brought ... shares allotted to the assessee vide
share certificate dated 31.03.2011 were dematerialized on 21.10.2011, therefore,
on the date of dematerialization of the shares the holding
prescribed procedure, from the stage
of purchase till the shares are dematerialized and sold, leaving
no room for doubt or suspicion that the transactions ... purchase transactions
have taken place through banking channels, shares are in
dematerialized form and the sale transactions have taken place
on recognized stock exchange which
