ITAT deletes addition for LTCG made without Independent Verification

Anusmriti Sarkar Vs ITO (ITAT Mumbai) LTCG From Kailash Auto Finance Scrip Deleted When AO Made Addition On Surmises On Mere Report Of Investigation Wing Without Independent Verification. The undisputed facts are that the assessee has earned a capital gain of Rs.1,01,71,119/- on the sale of scripts namely M/s. Surabhi Chemical and Investment Ltd. and M/s. Kailash Auto Finance Ltd. The facts qua the purchase and sale of shares and necessary evidences were already discussed hereinabove and are not being repeated for the sake of gravity. We note that assessee has filed all the evidences comprisin...