Addition u/s 68 unsustainable as assessee’s involved in price manipulation not established

Poornima Ramesh Shenoy Vs ITO (ITAT Mumbai)

ITAT Mumbai held that addition u/s 68 unsustainable as department failed to establish that assessee was involved in price manipulation even after purchasing and selling the shares on the stock exchange through SEBI registered stock.

Facts- The assessee is an individual and for the year under consideration filed the return of income on 13/04/2015, declaring a total income of Rs. 20,480/-. The return filed by the assessee was selec

Please become a Premium member. If you are already a Premium member, login here to access the full content.