Preponderance of Probability Not Enough—Share Transactions Genuine, Section 68 Addition Deleted

Jainmati Jain Vs ITO (ITAT Delhi) Preponderance of Probability Not Enough—Share Transactions Genuine, Section 68 Addition Deleted Assessee challenged addition of ₹1,05,62,000 made u/s 68 treating part of sale consideration of shares (ALPS Motor Finance Ltd) as unexplained. Assessee submitted that the matter is squarely covered by ITAT’s decision in the case of her son Vipin Jain (ITA 909/Del/2019) for AY 2015-16, wherein identical transactions in the same scrip were held genuine. That decision was later affirmed by the Hon’ble Delhi High Court in ITA 95/2022 dated 12.03.2024. Revenue r...