https://www.taxtmi.com/caselaws?id=384882 The High Court upheld the ITAT's decision to delete the addition of Rs. 5,17,45,958/- under Section 69A of the Income Tax Act, ruling that the Assessee was not the owner of the money but merely a conduit. The court dismissed the Revenue's appeal, finding in favor of the Assessee. The issues regarding disallowance under Section 40A(3) and classification of loss as speculation loss were not extensively addressed by the High Court as the primary focus was on the Section 69A deletion. en-us Thu, 22 Aug 2019 00:00:00 +0530 Fri, 01 May 2026 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384882 The High Court upheld the ITAT's decision to delete the addition of Rs. 5,17,45,958/- under Section 69A of the Income Tax Act, ruling that the Assessee was not the owner of the money but merely a conduit. The court dismissed the Revenue's appeal, finding in favor of the Assessee. The issues regarding disallowance under Section 40A(3) and classification of loss as speculation loss were not extensively addressed by the High Court as the primary focus was on the Section 69A deletion. Case-Laws Income Tax Thu, 22 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384882