https://www.taxtmi.com/caselaws?id=432866 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the AO regarding the disallowance of exemption claimed under Section 10(38) of the Income Tax Act. The AO's reliance on an interim SEBI report alleging manipulation in share prices was deemed insufficient, as the final SEBI order absolved the company of all charges. The Tribunal found no merit in the Revenue's arguments, emphasizing the importance of considering the final SEBI report and supporting the CIT(A)'s decision to delete the addition of Rs. 8,90,28,838. en-us Wed, 11 Jan 2023 00:00:00 +0530 Mon, 16 Jan 2023 08:41:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432866 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the AO regarding the disallowance of exemption claimed under Section 10(38) of the Income Tax Act. The AO's reliance on an interim SEBI report alleging manipulation in share prices was deemed insufficient, as the final SEBI order absolved the company of all charges. The Tribunal found no merit in the Revenue's arguments, emphasizing the importance of considering the final SEBI report and supporting the CIT(A)'s decision to delete the addition of Rs. 8,90,28,838. Case-Laws Income Tax Wed, 11 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432866