https://www.taxtmi.com/caselaws?id=416829 The Tribunal upheld the CIT(A)'s decision in the appeal for AY 2010-2011, dismissing the revenue's challenge against the deletion of short term capital gains tax addition. The Tribunal emphasized the AO's failure to follow the required valuation procedure and supported the assessee's objections with evidence, resulting in the deletion of the addition. In the appeal for AY 2009-2010, the Tribunal affirmed the CIT(A)'s decision to limit the unexplained investment addition to Rs. 17,00,000 based on the evidence provided by the assessee, leading to the dismissal of the assessee's appeal. en-us Thu, 06 Jan 2022 00:00:00 +0530 Fri, 07 Jan 2022 18:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416829 The Tribunal upheld the CIT(A)'s decision in the appeal for AY 2010-2011, dismissing the revenue's challenge against the deletion of short term capital gains tax addition. The Tribunal emphasized the AO's failure to follow the required valuation procedure and supported the assessee's objections with evidence, resulting in the deletion of the addition. In the appeal for AY 2009-2010, the Tribunal affirmed the CIT(A)'s decision to limit the unexplained investment addition to Rs. 17,00,000 based on the evidence provided by the assessee, leading to the dismissal of the assessee's appeal. Case-Laws Income Tax Thu, 06 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416829