Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of The ITAT allowed the assessee's appeal against additions made under section 68 read with section 115BBE regarding alleged bogus long-term capital gains. The Tribunal held that the AO's addition was untenable as it was based solely on an investigation report that was never shared with the assessee. The assessee had substantiated the legitimacy of the share transactions by providing evidence that shares were originally purchased in cash, physically delivered, later dematerialized, and eventually sold through proper channels with consideration received through banking channels. Following the precedent in Krishna Devi, the ITAT concluded that additions cannot be made merely on assumptions when transactions are properly documented through banking and demat accounts.
TaxTMI 
TaxTMI 
