https://www.taxtmi.com/caselaws?id=194339 The Appellate Tribunal upheld the deletion of an addition of Rs. 4,99,44,800 on account of loss in trading of shares for A.Y. 2005-06. The Tribunal found that the losses were genuine business losses supported by transactions through Demat accounts and banking channels, with parties' confirmations provided. Emphasizing the legitimacy of the transactions and the absence of evidence proving them to be sham, the Tribunal dismissed the Revenue's appeal, affirming the ld. CIT(A)'s decision that the losses were incurred in the normal course of business. en-us Thu, 06 Oct 2016 00:00:00 +0530 Tue, 05 Sep 2017 16:36:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194339 The Appellate Tribunal upheld the deletion of an addition of Rs. 4,99,44,800 on account of loss in trading of shares for A.Y. 2005-06. The Tribunal found that the losses were genuine business losses supported by transactions through Demat accounts and banking channels, with parties' confirmations provided. Emphasizing the legitimacy of the transactions and the absence of evidence proving them to be sham, the Tribunal dismissed the Revenue's appeal, affirming the ld. CIT(A)'s decision that the losses were incurred in the normal course of business. Case-Laws Income Tax Thu, 06 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194339