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Section 68 Addition on Stampede Capital Share Sale Deleted for Lack of Assessee Link: ITAT Kolkata
Case Law Details
- Case Name
- ITO Vs Stenly Securities Limited (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Kolkata
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ITO Vs Stenly Securities Limited (ITAT Kolkata)
The ITAT Kolkata dismissed the Revenue’s appeal against the order of the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (NFAC), for Assessment Year (AY) 2018-19, thereby upholding the deletion of an addition made under Section 68 of the Income-tax Act in respect of transactions involving shares of Stampede Capital Ltd.
The assessee had originally filed its return of income on 25.10.2018 declaring total income of ₹1,20,850. The assessment was reopened under Sections 147 and 148 based on information r...
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