https://www.taxtmi.com/caselaws?id=442034 The tribunal directed the Assessing Officer to delete the disallowance under section 69 of the Act for unexplained investment in jewellery for A.Y. 2011-12, as payments were made through banking channels and properly reflected in the books. Regarding the assessment of sale value of shares as unexplained cash credit under section 68 of the Act for A.Y. 2014-15, the tribunal found the shares were held for a substantial period, indicating genuine investment, and overturned the addition, directing the AO to delete it. The tribunal also removed a 1% expenditure added by the AO as consequential. en-us Wed, 19 Jul 2023 00:00:00 +0530 Wed, 23 Aug 2023 09:07:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442034 The tribunal directed the Assessing Officer to delete the disallowance under section 69 of the Act for unexplained investment in jewellery for A.Y. 2011-12, as payments were made through banking channels and properly reflected in the books. Regarding the assessment of sale value of shares as unexplained cash credit under section 68 of the Act for A.Y. 2014-15, the tribunal found the shares were held for a substantial period, indicating genuine investment, and overturned the addition, directing the AO to delete it. The tribunal also removed a 1% expenditure added by the AO as consequential. Case-Laws Income Tax Wed, 19 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442034