https://www.taxtmi.com/highlights?id=60347 Bogus STCL - Disallowance of Loss arising from the trading in shares - accommodation entry of STCL - the fact remains that the findings of the lower authorities are not based on evidence but on generalizations and probabilities. The AO could not place anything on record, maybe through a process of his own enquiry, to decisively prove that assessee has obtained bogus STCL through his connivance with entry operators / exit providers. - The claim of the assessee appears to have been rejected more on the basis of presumption rather than evidence. - Additions deleted - AT en-us Tue, 02 Nov 2021 16:21:31 +0530 Tue, 02 Nov 2021 16:21:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60347 Bogus STCL - Disallowance of Loss arising from the trading in shares - accommodation entry of STCL - the fact remains that the findings of the lower authorities are not based on evidence but on generalizations and probabilities. The AO could not place anything on record, maybe through a process of his own enquiry, to decisively prove that assessee has obtained bogus STCL through his connivance with entry operators / exit providers. - The claim of the assessee appears to have been rejected more on the basis of presumption rather than evidence. - Additions deleted - AT Highlights Income Tax Tue, 02 Nov 2021 16:21:31 +0530 https://www.taxtmi.com/highlights?id=60347