https://www.taxtmi.com/caselaws?id=196458 The Tribunal allowed the appeal, overturning the CIT(A)'s decision and directing the Assessing Officer to remove the addition of the disputed amount from the assessee's income. The Tribunal emphasized the unreliability of Mr. Mukesh Choksi's statement and highlighted that transactions off the stock exchange floor do not necessarily indicate illegitimacy. Previous Tribunal rulings supporting the assessee's position were cited, leading to the conclusion that the entire consideration on the sale of shares should not be treated as income from undisclosed sources. en-us Mon, 30 Nov 2015 00:00:00 +0530 Fri, 01 Dec 2017 17:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196458 The Tribunal allowed the appeal, overturning the CIT(A)'s decision and directing the Assessing Officer to remove the addition of the disputed amount from the assessee's income. The Tribunal emphasized the unreliability of Mr. Mukesh Choksi's statement and highlighted that transactions off the stock exchange floor do not necessarily indicate illegitimacy. Previous Tribunal rulings supporting the assessee's position were cited, leading to the conclusion that the entire consideration on the sale of shares should not be treated as income from undisclosed sources. Case-Laws Income Tax Mon, 30 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196458