Taxpayer's Wheat Trading Loss Deemed Genuine; Insufficient Evidence from Revenue Authorities Leads to Deletion of Additions.

Taxpayer's Wheat Trading Loss Deemed Genuine; Insufficient Evidence from Revenue Authorities Leads to Deletion of Additions. https://www.taxtmi.com/highlights?id=50450 Stock Loss in trading of wheat - genuine loss - CIT(A) failed to appreciate that delivery taken by the “Pakka Arhtias” in the capacity of agent of the assessee is to be construed as actual delivery taken by the assessee. - ld.Revenue authorities have failed to bring conclusive evidence for falsifying the claim of the assessee. - Additions deleted. en-us Fri, 29 Nov 2019 11:17:48 +0530 Fri, 29 Nov 2019 11:17:48 +0530 TaxTMI RSS Generator Taxpayer's Wheat Trading Loss Deemed Genuine; Insufficient Evidence from Revenue Authorities Leads to Deletion of Additions. https://www.taxtmi.com/highlights?id=50450 Stock Loss in trading of wheat - genuine loss - CIT(A) failed to appreciate that delivery taken by the “Pakka Arhtias” in the capacity of agent of the assessee is to be construed as actual delivery taken by the assessee. - ld.Revenue authorities have failed to bring conclusive evidence for falsifying the claim of the assessee. - Additions deleted. Highlights Income Tax Fri, 29 Nov 2019 11:17:48 +0530 https://www.taxtmi.com/highlights?id=50450