https://www.taxtmi.com/caselaws?id=297889 The Tribunal allowed the assessee's appeals, directing the deletion of the addition made under Section 68 of the Income Tax Act, 1961, regarding the sale consideration of shares and the corresponding addition towards commission income. The Tribunal found the assessee's investments genuine, supported by credible documents, rejecting the AO's reliance on presumptions and lack of specific evidence. The AO failed to prove the transactions as collusive or bogus, leading to the Tribunal's decision in favor of the assessee. en-us Tue, 16 Oct 2018 00:00:00 +0530 Wed, 29 Sep 2021 11:02:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297889 The Tribunal allowed the assessee's appeals, directing the deletion of the addition made under Section 68 of the Income Tax Act, 1961, regarding the sale consideration of shares and the corresponding addition towards commission income. The Tribunal found the assessee's investments genuine, supported by credible documents, rejecting the AO's reliance on presumptions and lack of specific evidence. The AO failed to prove the transactions as collusive or bogus, leading to the Tribunal's decision in favor of the assessee. Case-Laws Income Tax Tue, 16 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297889