https://www.taxtmi.com/caselaws?id=441157 The ITAT allowed the assessee's appeal, directing the AO to delete the additions under Section 68 for LTCG and the alleged undisclosed commission. The Tribunal found the transactions genuine, supported by documentary evidence, and criticized the AO for lack of independent investigation and reliance on third-party statements without cross-examination. The decision emphasized the need for concrete evidence to substantiate claims of bogus transactions, leading to the deletion of the disputed additions. en-us Thu, 02 Mar 2023 00:00:00 +0530 Thu, 03 Aug 2023 07:54:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441157 The ITAT allowed the assessee's appeal, directing the AO to delete the additions under Section 68 for LTCG and the alleged undisclosed commission. The Tribunal found the transactions genuine, supported by documentary evidence, and criticized the AO for lack of independent investigation and reliance on third-party statements without cross-examination. The decision emphasized the need for concrete evidence to substantiate claims of bogus transactions, leading to the deletion of the disputed additions. Case-Laws Income Tax Thu, 02 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441157