Entire Share Sale Proceeds Can’t Be Taxed as Capital Gains: ITAT Visakhapatnam

Vulli Radhakrishna Vs ITO (ITAT Visakhapatnam) Faceless Reassessment Upheld, But Multiple Additions Sent Back- Cash Deposits, Credit Cards & Share Transactions—ITAT Flags Double Additions, Remands Issues to AO The Visakhapatnam Bench of the ITAT, in Vulli Radhakrishna vs ITO (ITA No. 359/Viz/2025, AY 2015-16), upheld the jurisdictional validity of reassessment framed u/s 147 r/w 144 r/w 144B by the Faceless Assessing Officer, but set aside multiple additions on merits and restored the matter to the AO for fresh adjudication. The Assessee challenged the reassessment on the ground that pri...