Case Law Details
Case Name : India Max Investment Fund Private Limited Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2019-20
Courts :
All ITAT ITAT Mumbai
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India Max Investment Fund Private Limited Vs DCIT (ITAT Mumbai)
Capital Gains Accepted as Genuine Because Share Transactions Were Fully Supported by Documentary Evidence; Section 68 Addition Quashed Because Suspicion Cannot Replace Evidence; Penny Stock Allegation Rejected Because No Nexus With Accommodation Entry Operators Was Established; Additions Deleted Because Shares Were Purchased, Held and Sold Through Recognized Stock Exchange Mechanism; Section 69C Addition Deleted Because It Was Solely Consequential to Unsustainable Section 68 Addition.
The appeal arose from a final assessment order...
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