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ITAT Deletes Bogus LTCG Addition in absence of Independent Inquiry & Corresponding Bank Credits
Case Law Details
- Case Name
- ITO Vs Nawabkhan Imamkhan Baloch (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Ahmedabad
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ITO Vs Nawabkhan Imamkhan Baloch (ITAT Ahmedabad)
ITAT Upholds Deletion of ₹26.56 Lakh Bogus LTCG Addition Because No Evidence Linked Assessee to Accommodation Entries; No Corresponding Bank Credits, No Section 69A Addition: ITAT; Bogus LTCG Addition Deleted Because AO Relied Only on Investigation Report Without Independent Verification; Section 69A Addition Quashed Because AO Failed to Prove Specific Share Transactions; ITAT Deletes Bogus LTCG Addition Because No Independent Inquiry Was Conducted.
The Income Tax Appellate Tribunal (ITAT), Ahmedabad, dismissed the Department’s appeal and u...
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