No addition for loss treated as non-genuine if same is not been claimed by Assessee in his computation of Income

Dhaval R Ajmera Vs ITO (ITAT Mumbai)

Though the assessee has raised several grounds, the only effective issue involved in the impugned appeal is as to whether the ld. CIT(A) was justified in confirming the disallowance of Rs.7,89,745/- on account of alleged purchase of shares through M/s. Alliance Intermediates and Network Private Limited and alleged related commission expenditure of Rs.39,487/- in the facts and circumstances of the instant case.

We also find from the computation of income

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