MEENU RANI VS. ITO, WARD 3(3)(2)
Case No: ITA NO. 3878/Del/2023
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH
Date: 2/21/2025
Parties Involved
appellantMEENU RANI
respondentITO, WARD 3(3)(2)
Facts Summary
The case of the assessee, Meenu Rani, was selected under sections 147/148 for the assessment year 2012-13 based on information that she was a beneficiary of bogus Long-Term Capital Gains (LTCG) and Short-Term Capital Loss (STCL) entries in the financial year 2011-12. These entries were part of a syndicate's ploy to create bogus claims by executing trades on exchanges and presenting pre-arranged transactions as genuine market transactions. The bogus shell companies involved were M/s NYASA Corpora…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the AO provided proper opportunity of being heard to the appellant before making the assessment order.
- 2. Whether the addition of Rs. 18,50,023/- to the income of the appellant was justified.