https://www.taxtmi.com/caselaws?id=305913 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to delete additions made by the Assessing Officer under Section 68 of the Income Tax Act. The Tribunal found the share transactions genuine, supported by evidence such as contract notes and DEMAT statements. Procedural lapses by the Assessing Officer, including not providing the assessee with relevant documents or the opportunity to cross-examine witnesses, led to the dismissal of the Revenue's appeals. The Tribunal affirmed that the additions under Section 68 were unwarranted, and both of the Revenue's appeals were consequently dismissed. en-us Wed, 14 Dec 2016 00:00:00 +0530 Fri, 30 Dec 2022 09:52:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305913 The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to delete additions made by the Assessing Officer under Section 68 of the Income Tax Act. The Tribunal found the share transactions genuine, supported by evidence such as contract notes and DEMAT statements. Procedural lapses by the Assessing Officer, including not providing the assessee with relevant documents or the opportunity to cross-examine witnesses, led to the dismissal of the Revenue's appeals. The Tribunal affirmed that the additions under Section 68 were unwarranted, and both of the Revenue's appeals were consequently dismissed. Case-Laws Income Tax Wed, 14 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305913