Capital Gain cannot be treated as bogus without giving reasons

Dhirubhai Kantilal Sharma Vs ITO (ITAT Ahmedabad) Introduction: In the case of Dhirubhai Kantilal Sharma vs. ITO (ITAT Ahmedabad), the Assessee has appealed against an order dated 30.03.2023 passed by the CIT(A), National Faceless Appeal Centre (NFAC), Delhi, for the Assessment Year 2012-13. The key issue at hand is the addition of Rs 3,33,411 made by the Assessing Officer (AO) without specifying the relevant statutory provision. Detailed Analysis: 1. Background of the Case: The Assessee has challenged the order passed by the CIT(A) and the subsequent addition of Rs 3,33,411 made by the AO. Th...