Assessment Reopening and Additions u/ss 147 and 68 Insufficient Without Concrete Evidence of Bogus LTCG Transactions. https://www.taxtmi.com/highlights?id=57791 Reopening of assessment u/s 147 - addition u/s 68 - Merely on an allegations levelled by DIT (Inv.), as in this case explaining the general modus operandi carried out by un-scrupulous persons in suspected transactions to earn bogus LTCG, can only raise suspicion in the mind of the AO (which fact we have pointed out earlier) which is not sufficient/requirement of law for reopening of assessment. - AT en-us Fri, 30 Apr 2021 09:53:41 +0530 Fri, 30 Apr 2021 09:53:41 +0530 TaxTMI RSS Generator Assessment Reopening and Additions u/ss 147 and 68 Insufficient Without Concrete Evidence of Bogus LTCG Transactions. https://www.taxtmi.com/highlights?id=57791 Reopening of assessment u/s 147 - addition u/s 68 - Merely on an allegations levelled by DIT (Inv.), as in this case explaining the general modus operandi carried out by un-scrupulous persons in suspected transactions to earn bogus LTCG, can only raise suspicion in the mind of the AO (which fact we have pointed out earlier) which is not sufficient/requirement of law for reopening of assessment. - AT Highlights Income Tax Fri, 30 Apr 2021 09:53:41 +0530 https://www.taxtmi.com/highlights?id=57791