https://www.taxtmi.com/caselaws?id=255550 The Court directed the CIT(Appeal) to reconsider whether the assessee's intraday trading transactions were jobbing transactions and if consideration had passed, instructing to call for a remand report. The Court found that the addition of loans under Section 68 was not warranted as the creditors' transactions were confirmed, creditworthiness established, and the assessee disclosed the true identity and creditworthiness of the creditor. As genuineness was inferred, the appeal was partly allowed based on these findings, with no substantial question of law arising. en-us Wed, 14 Jan 2015 00:00:00 +0530 Mon, 19 Jan 2015 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255550 The Court directed the CIT(Appeal) to reconsider whether the assessee's intraday trading transactions were jobbing transactions and if consideration had passed, instructing to call for a remand report. The Court found that the addition of loans under Section 68 was not warranted as the creditors' transactions were confirmed, creditworthiness established, and the assessee disclosed the true identity and creditworthiness of the creditor. As genuineness was inferred, the appeal was partly allowed based on these findings, with no substantial question of law arising. Case-Laws Income Tax Wed, 14 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255550