https://www.taxtmi.com/caselaws?id=255546 The High Court remitted the matter back to the ITAT for reconsideration after accepting the assessee's appeal against the Revenue's addition under Section 68 of the Income Tax Act for alleged capital gains. The ITAT's decision to reject the addition was upheld, emphasizing that the burden of proof regarding the source of income lies with the assessee, who adequately disclosed relevant details, including broker information and stock exchange quotations. The Court dismissed the Revenue's appeal, stating that the assessing officer should investigate further if doubts arise, rather than demand the physical presence of brokers. en-us Tue, 06 Jan 2015 00:00:00 +0530 Tue, 20 Jan 2015 07:15:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255546 The High Court remitted the matter back to the ITAT for reconsideration after accepting the assessee's appeal against the Revenue's addition under Section 68 of the Income Tax Act for alleged capital gains. The ITAT's decision to reject the addition was upheld, emphasizing that the burden of proof regarding the source of income lies with the assessee, who adequately disclosed relevant details, including broker information and stock exchange quotations. The Court dismissed the Revenue's appeal, stating that the assessing officer should investigate further if doubts arise, rather than demand the physical presence of brokers. Case-Laws Income Tax Tue, 06 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255546