Jinesh D. Bhatt

SAT-appeal

• Manipulation of Rajratan Global Wire Ltd. price/volume by Tarun Kumar; acquisition of 16.77% of Velan Hotels Ltd. beyond 15% without public announcement/disclosure under SAST and PIT.
  AO imposed Rs.15 lakhs penalty on Tarun Kumar for PFUTP violation · SAT held AO trading-pattern finding cannot be faulted; SAST/PIT part truncated at para 11
  Appeal: Appeal No.260 of 2017 and Appeal No.269 of 2017, Order Reserved 11.7.2019, Date of Decision 17.9.2019
• Manipulation of Rajratan Global Wire Ltd price/volume by Tarun Kumar; acquisition of 16.77% of Velan Hotels Ltd without Regulation 10 public announcement/disclosure, also triggering PIT disclosure.
  AO imposed Rs.15 lakhs penalty on Tarun Kumar Brahambhatt for PFUTP violation; SAT reasoning finds AO order cannot be faulted · AO dropped proceedings against other noticees nos.3-7 in Rajratan matter for miniscule trade and no nexus
  Appeal: Appeal No.260 of 2017 and Appeal No.269 of 2017, Order Reserved 11.7.2019, Date of Decision 17.9.2019