light of the
fact that the transactions are managed through synchronised trading and are not
genuine transactions even though conducted on the Stock Exchange
parties are mentioned in the said order as having
indulged in synchronised trading. In absence of any such
29
ITA No.4464/Mum/2024 ... passed an "Ex-parte Ad Interim Order"
pointing out synchronised reversal trades in illiquid option
/currency derivatives carried out by certain traders through
Shaily Prince Goyal, Mumbai vs Income Tax Officer-27(3)(1), Navi ... on 30 May
parties are mentioned in the said order as having
indulged in synchronised trading. In absence of any such
29
ITA No.4464/Mum/2024 ... passed an "Ex-parte Ad Interim Order"
pointing out synchronised reversal trades in illiquid option
/currency derivatives carried out by certain traders through
Dy C.I.T. Cent Cir -6(2) , `Mumbai vs Shri Ashok B. Jiwrajka, Mumbai
contract notes and sale bills to enquire whether
it is a synchronised trade with the broker of the buying
party.
30. As per the company
office, only 2-3 employees etc. The company
had shown stock in trade of Rs. 3.19 crores but no physical stock was found
during ... operator of the scrip RIL, he
explained the entire process of synchronised trading by way of artificial increase
13
ITA Nos.2010/Mum/2023
they are of people of no means.
(vi) Price escalation through synchronised trading within limited parties,
mostly entities controlled by the entry operators.
(vii) Statement
loss shown of Rs 1,96,04,400 on account of
trading in options cannot be held as bogus loss.
Therefore, the addition made ... material unearthed by the Investigation Wing, Mumbai, in relation
to synchronised trades in illiquid stock options an
and
d reversal trades
executed within a closed
desired
loss and/or profit. Such synchronized trading is violative of
transparent norms of trading in securities. If the findings of SAT are
Vivah Classique ... transaction lasts few
seconds and not more than an hour.
5. Synchronised trading in the illiquid stock/currency option which
are thinly traded
artificial trades
