Case Law Details
Case Name : Vivek Agarwal Vs ITO (ITAT Jaipur)
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Jaipur
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Vivek Agarwal Vs ITO (ITAT Jaipur)
In the case of Vivek Agarwal vs ITO, the Jaipur bench of the Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, challenging the addition of ₹4.78 crore made by the Assessing Officer (AO) as unexplained income. The assessee had declared this amount as exempt long-term capital gains (LTCG) from the sale of equity shares, which he contended were acquired legitimately and sold after being dematerialized. The AO rejected the claim, alleging that the transaction was a sham involving accommodation entries facilitated through
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