M/s R.S. Vinimay Pvt. Ltd. Vs. ITO, Circle 11(3)
Case No: ITA No.1513/KOL/2025
Court: INCOME TAX APPELLATE TRIBUNAL “D” BENCH, KOLKATA
Date: 11/11/2025
Parties Involved
appellantM/s R.S. Vinimay Pvt. Ltd.
respondentITO, Circle 11(3)
Facts Summary
The assessee, M/s R.S. Vinimay Pvt. Ltd., filed its return of income for the assessment year 2016-17 declaring a total income of ₹43,04,040/-. The return was processed under section 143(1) of the Act. Subsequently, the assessment was reopened under section 147 of the Act based on information that the assessee had engaged in non-genuine transactions in equity derivatives, incurring a loss of ₹98,10,876/- by trading in illiquid stock options on the Bombay Stock Exchange. The Assessing Officer (AO)…
Decision in favour of
Assessee
Legal Issues
- 1. Validity of reopening the assessment under section 147 of the Act.
Precedents Relied Upon
6 precedents cited in this judgement.