https://www.taxtmi.com/caselaws?id=450654 The Bombay HC upheld ITAT's decision deleting multiple additions made by AO in a case connected to the Harshad Mehta scam. ITAT found AO's conclusions were based on conjectures without proper examination of evidence, including contract notes in Revenue's custody. The court agreed with ITAT's deletion of additions for negative brokerage, stock mismatch, credit balance disputes, unexplained cash credits, interest disallowances, and securities transaction losses. HC held no substantial questions of law arose as decisions were factual, based on evidence appreciation, and AO failed to systematically examine available materials. en-us Wed, 06 Mar 2024 00:00:00 +0530 Wed, 13 May 2026 15:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450654 The Bombay HC upheld ITAT's decision deleting multiple additions made by AO in a case connected to the Harshad Mehta scam. ITAT found AO's conclusions were based on conjectures without proper examination of evidence, including contract notes in Revenue's custody. The court agreed with ITAT's deletion of additions for negative brokerage, stock mismatch, credit balance disputes, unexplained cash credits, interest disallowances, and securities transaction losses. HC held no substantial questions of law arose as decisions were factual, based on evidence appreciation, and AO failed to systematically examine available materials. Case-Laws Income Tax Wed, 06 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450654