Bogus LTCG Allegation Fails Due to Lack of Proof of Manipulation

DCIT Vs Deepti Agrawal (ITAT Delhi) Suspicion can’t replace proof: ITAT Delhi upholds genuine LTCG on Capital Tradelink & Alankit shares Delhi Tribunal dismissed the Revenue’s appeal and upheld the deletion of additions made on account of alleged bogus long-term capital gains. The AO had treated LTCG of ₹3.73 crore from sale of shares of Capital Tradelink Pvt. Ltd. and Alankit Ltd. as non-genuine and also added alleged accommodation entry expenses u/s 69C. The Tribunal noted that the CIT(A) had rightly relied on coordinate bench decisions in the assessee’s own case for earlier year...