https://www.taxtmi.com/caselaws?id=307571 The Tribunal allowed the appeal, setting aside the Commissioner of Income Tax (Appeals) order and deleting the addition of Rs.1,05,541 under section 68 of the Income Tax Act for Assessment Year 2012-13. The Tribunal found that the appellant had sufficiently proven the legitimacy of share transactions in M/s. Vas Infrastructure Ltd. through recognized stock exchanges and proper banking channels, emphasizing the genuineness of the transactions and overturning the disallowance of short term loss and addition on sale proceedings. en-us Mon, 07 Nov 2022 00:00:00 +0530 Fri, 21 Apr 2023 21:57:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307571 The Tribunal allowed the appeal, setting aside the Commissioner of Income Tax (Appeals) order and deleting the addition of Rs.1,05,541 under section 68 of the Income Tax Act for Assessment Year 2012-13. The Tribunal found that the appellant had sufficiently proven the legitimacy of share transactions in M/s. Vas Infrastructure Ltd. through recognized stock exchanges and proper banking channels, emphasizing the genuineness of the transactions and overturning the disallowance of short term loss and addition on sale proceedings. Case-Laws Income Tax Mon, 07 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307571