https://www.taxtmi.com/caselaws?id=349842 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the additions and disallowances made by the AO and confirmed by the CIT(A). The Tribunal found that the funds received were not loans or advances under Section 2(22)(e) due to fraudulent actions, thus not subject to taxation. Additionally, deductions for brokerage, legal expenses, and property alterations were allowed. The AO was directed to verify capital gains in a subsequent year to prevent double taxation. The Tribunal's decision was issued on 18/10/2017. en-us Wed, 18 Oct 2017 00:00:00 +0530 Wed, 29 Nov 2017 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349842 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the additions and disallowances made by the AO and confirmed by the CIT(A). The Tribunal found that the funds received were not loans or advances under Section 2(22)(e) due to fraudulent actions, thus not subject to taxation. Additionally, deductions for brokerage, legal expenses, and property alterations were allowed. The AO was directed to verify capital gains in a subsequent year to prevent double taxation. The Tribunal's decision was issued on 18/10/2017. Case-Laws Income Tax Wed, 18 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349842