Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
ITAT affirmed the CIT(A)'s order and dismissed Departmental appeals for AYs 2014-15, 2015-16 and 2016-17, rejecting reclassification of short-term capital gains (initially taxed under s.111A) as unexplained income under s.68 read with s.115BBE. The Tribunal found the AO's factual premises illusory and his change of opinion unjustified absent any proper inquiry, and placed weight on final SEBI acquittal orders which eliminated the AO's suspicions regarding genuineness of share transactions. Given the tax effect was below the Rs.60 lakh threshold and no allegation of organized accommodation entries, the ITAT declined to disturb the well-reasoned appellate order and dismissed the appeals.
ITAT affirmed the CIT(A)'s order and dismissed Departmental appeals for AYs 2014-15, 2015-16 and 2016-17, rejecting reclassification of short-term capital gains (initially taxed under s.111A) as unexplained income under s.68 read with s.115BBE. The Tribunal found the AO's factual premises illusory and his change of opinion unjustified absent any proper inquiry, and placed weight on final SEBI acquittal orders which eliminated the AO's suspicions regarding genuineness of share transactions. Given the tax effect was below the Rs.60 lakh threshold and no allegation of organized accommodation entries, the ITAT declined to disturb the well-reasoned appellate order and dismissed the appeals.
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