https://www.taxtmi.com/caselaws?id=305972 The Appellate Tribunal ITAT Ahmedabad dismissed the Revenue's appeal against the deletion of the addition under Section 68 of the Income-Tax Act, 1961 for Assessment Year 2011-12. The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) to delete the addition, emphasizing the genuine nature of the long-term investment in shares made by the assessee. The Tribunal found no merit in the Revenue's contentions and concluded that the investment was not aimed at quick profits, leading to the dismissal of the appeal. en-us Wed, 01 Dec 2021 00:00:00 +0530 Mon, 02 Jan 2023 21:14:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305972 The Appellate Tribunal ITAT Ahmedabad dismissed the Revenue's appeal against the deletion of the addition under Section 68 of the Income-Tax Act, 1961 for Assessment Year 2011-12. The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) to delete the addition, emphasizing the genuine nature of the long-term investment in shares made by the assessee. The Tribunal found no merit in the Revenue's contentions and concluded that the investment was not aimed at quick profits, leading to the dismissal of the appeal. Case-Laws Income Tax Wed, 01 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305972