Case Law Details
Case Name : ACIT Vs Bishan Jugraj Jain (ITAT Mumbai)
Related Assessment Year : 2016-17
Courts :
All ITAT ITAT Mumbai
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ACIT Vs Bishan Jugraj Jain (ITAT Mumbai)
No Addition U/s 153A Without Incriminating Material – Penny Stock LTCG Addition Deleted in Unabated Year – ITAT Mumbai
AO made addition u/s 68 & 69C alleging bogus LTCG from penny stock transactions based on investigation wing report and IDS declaration by family members, despite search u/s 132 not yielding any incriminating material against assessee. CIT(A) deleted additions holding that impugned year was unabated and no addition can be made
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