Addition set aside as active involvement in price manipulation of scrip not demonstrated

Sagar Jhaveri Vs DCIT (ITAT Ahmedabad)

ITAT Ahmedabad held that addition on account of disallowance of loss in trading of shares set aside as active involvement of assessee in price manipulation not demonstrated. Accordingly, appeal allowed on merits.

Facts- The present appeal is preferred by the assessee mainly contesting addition on account of disallowance of loss in trading of shares of Radhe Developers India Ltd. Assessee contested that CIT(A) has erred in law and on facts in confirming the addition of Rs. 2,94,753/-on account of disallowance of loss in

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