https://www.taxtmi.com/caselaws?id=247230 The Income Tax Appellate Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition made by the Assessing Officer on account of disallowance of the assessee's claim of share loss. The Tribunal found the Assessing Officer's suspicions lacked substantial evidence and that the documentary evidence provided by the assessee, along with the involvement of registered stock brokers, supported the legitimacy of the share transactions. The High Court concurred with the Tribunal's findings, stating no substantial question of law arose, and dismissed the appeal, affirming the decisions of the lower authorities regarding the disallowance of the share loss claim. en-us Thu, 01 May 2014 00:00:00 +0530 Tue, 06 May 2014 09:11:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247230 The Income Tax Appellate Tribunal upheld the Commissioner of Income Tax (Appeals) decision to delete the addition made by the Assessing Officer on account of disallowance of the assessee's claim of share loss. The Tribunal found the Assessing Officer's suspicions lacked substantial evidence and that the documentary evidence provided by the assessee, along with the involvement of registered stock brokers, supported the legitimacy of the share transactions. The High Court concurred with the Tribunal's findings, stating no substantial question of law arose, and dismissed the appeal, affirming the decisions of the lower authorities regarding the disallowance of the share loss claim. Case-Laws Income Tax Thu, 01 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247230