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of ITAT upheld the order of the CIT(A) dismissing the revenue's appeal and directing deletion of additions under section 68 read with section 115BBE and section 69C. The Tribunal held that the AO mechanically relied on an investigation report without conducting independent inquiry or identifying any discrepancy in the assessee's documentary and banking proofs for share purchases and sales executed on the stock exchange. SEBI's probe did not name the assessee nor encompass the dates of the assessee's transactions, and the CIT(A)'s reasoned, speaking order correctly found absence of material infirmity in the evidence to sustain the addition; revenue's appeal was therefore dismissed.
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