https://www.taxtmi.com/caselaws?id=449007 The ITAT Delhi ruled in favor of the assessee regarding addition under section 68 for income from undisclosed sources relating to share sales. The tribunal held that since the transaction involved sale of existing investments/shares by the assessee to other entities, and the department had not disputed the original investment in shares during A.Y. 2008-09, the sale transaction could not be treated as unexplained or bogus. The tribunal distinguished this case from share application money scenarios, noting the assessee had not received any share application money or premium from investors. en-us Wed, 31 Jan 2024 00:00:00 +0530 Sat, 03 Feb 2024 08:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449007 The ITAT Delhi ruled in favor of the assessee regarding addition under section 68 for income from undisclosed sources relating to share sales. The tribunal held that since the transaction involved sale of existing investments/shares by the assessee to other entities, and the department had not disputed the original investment in shares during A.Y. 2008-09, the sale transaction could not be treated as unexplained or bogus. The tribunal distinguished this case from share application money scenarios, noting the assessee had not received any share application money or premium from investors. Case-Laws Income Tax Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449007