https://www.taxtmi.com/caselaws?id=302092 The Tribunal upheld the CIT(A)'s decision to dismiss the Revenue's appeals concerning the deletion of additions under sections 68 and 69C of the IT Act related to bogus LTCG and unexplained commission expenditure. The Tribunal also supported the CIT(A)'s rulings on the deletion of additions based on incriminating documents and statements, consideration of statements recorded under sections 132(4) and 131, retraction of statements, interference with completed assessment, and acceptance of the High Court decision. The Tribunal concluded that subsequent circulars allowing appeals on merits in cases of organized tax evasion do not apply retrospectively to dismissed appeals based on low tax effect. en-us Fri, 20 Mar 2020 00:00:00 +0530 Wed, 04 May 2022 20:56:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302092 The Tribunal upheld the CIT(A)'s decision to dismiss the Revenue's appeals concerning the deletion of additions under sections 68 and 69C of the IT Act related to bogus LTCG and unexplained commission expenditure. The Tribunal also supported the CIT(A)'s rulings on the deletion of additions based on incriminating documents and statements, consideration of statements recorded under sections 132(4) and 131, retraction of statements, interference with completed assessment, and acceptance of the High Court decision. The Tribunal concluded that subsequent circulars allowing appeals on merits in cases of organized tax evasion do not apply retrospectively to dismissed appeals based on low tax effect. Case-Laws Income Tax Fri, 20 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302092