ITAT Deletes Bogus LTCG Addition in absence of Independent Inquiry & Corresponding Bank Credits

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...