https://www.taxtmi.com/caselaws?id=195049 The ITAT upheld the CIT(A)'s decision to dismiss the Revenue's appeals, affirming that the shares' purchase and sale were genuine, supported by credible evidence. The ITAT agreed that the AO's reliance on unverified statements violated natural justice principles. Additionally, the AO lacked material evidence to prove allegations of accommodation entries and unaccounted money introduction. The ITAT found the AO's actions unjust and supported the assessee's position, ultimately ruling in favor of the assessee. en-us Tue, 11 Oct 2011 00:00:00 +0530 Mon, 06 Aug 2018 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195049 The ITAT upheld the CIT(A)'s decision to dismiss the Revenue's appeals, affirming that the shares' purchase and sale were genuine, supported by credible evidence. The ITAT agreed that the AO's reliance on unverified statements violated natural justice principles. Additionally, the AO lacked material evidence to prove allegations of accommodation entries and unaccounted money introduction. The ITAT found the AO's actions unjust and supported the assessee's position, ultimately ruling in favor of the assessee. Case-Laws Income Tax Tue, 11 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195049