https://www.taxtmi.com/caselaws?id=447762 The appeal concerning the Assessment Year 2015-16 was dismissed, with the Tribunal's decision being upheld. The Tribunal found that the addition made by the Assessing Officer (AO) for undisclosed profit/loss from trading on MCX/NCDEX was unsustainable due to the absence of incriminating material found during the search. The AO's reliance on Section 69A of the Income Tax Act, 1961, was deemed inapplicable. The appellant's arguments, based on material allegedly showing ownership of the money, were insufficient. The application for condonation of delay in re-filing was dismissed as infructuous, and the case was closed. en-us Fri, 22 Dec 2023 00:00:00 +0530 Thu, 04 Jan 2024 09:11:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447762 The appeal concerning the Assessment Year 2015-16 was dismissed, with the Tribunal's decision being upheld. The Tribunal found that the addition made by the Assessing Officer (AO) for undisclosed profit/loss from trading on MCX/NCDEX was unsustainable due to the absence of incriminating material found during the search. The AO's reliance on Section 69A of the Income Tax Act, 1961, was deemed inapplicable. The appellant's arguments, based on material allegedly showing ownership of the money, were insufficient. The application for condonation of delay in re-filing was dismissed as infructuous, and the case was closed. Case-Laws Income Tax Fri, 22 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447762