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ITAT Rejects Bogus LTCG Addition as No Independent Enquiry Was Conducted
Case Law Details
- Case Name
- ITO Vs Amrat Mali (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 Amrat Mali (ITAT Ahmedabad)
The Income Tax Appellate Tribunal (ITAT), Ahmedabad, dismissed the Revenue’s appeal and upheld the order of the Commissioner of Income-tax (Appeals) [CIT(A)] deleting an addition of ₹26,08,000 made under Section 68 of the Income-tax Act, 1961. The addition had been made during reassessment proceedings on the basis of information received from the Investigation Wing following a search conducted under Section 132 in the cases of certain individuals. According to the information, the assessee was alleged to have received accommodation en...
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