https://www.taxtmi.com/caselaws?id=311398 The court dismissed the revenue's appeal, upholding the CIT(A)'s decision, which was supported by the ITAT. The ITAT validated the re-assessment proceedings but agreed with the CIT(A) on the lack of substantial evidence for profit shifting allegations against the assessee. The court emphasized the absence of collusion evidence among the assessee, other parties, and brokers, and noted the lack of further investigation following the SEBI circular violation. Consequently, the court found no substantial question of law, affirming the CIT(A)'s findings and dismissing the appeal. en-us Thu, 29 Aug 2019 00:00:00 +0530 Sat, 23 Dec 2023 09:44:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311398 The court dismissed the revenue's appeal, upholding the CIT(A)'s decision, which was supported by the ITAT. The ITAT validated the re-assessment proceedings but agreed with the CIT(A) on the lack of substantial evidence for profit shifting allegations against the assessee. The court emphasized the absence of collusion evidence among the assessee, other parties, and brokers, and noted the lack of further investigation following the SEBI circular violation. Consequently, the court found no substantial question of law, affirming the CIT(A)'s findings and dismissing the appeal. Case-Laws Income Tax Thu, 29 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311398