Bogus LTCG Allegation Fails: Insight Portal Input Alone Can’t Justify Reopening or Addition

Vishal Singhal Vs NFAC (ITAT Delhi) Bogus LTCG Allegation Fails: Insight Portal Input Alone Can’t Justify Reopening or Addition Delhi ITAT quashed additions towards alleged bogus long-term capital gains (LTCG) holding that mere information from the INSIGHT portal, without independent enquiry or corroborative material, cannot sustain reassessment or addition. The Assessee had claimed exempt LTCG of ₹1.57 crore u/s 10(38) on sale of shares of Yamini Investments Co. Ltd. (YICL) through recognised stock exchange, supported by contract notes, demat records & STT payment. AO reopened assessm...