https://www.taxtmi.com/caselaws?id=458214 ITAT Jodhpur ruled in favor of assessee regarding unexplained credit under section 68 and bogus LTCG accommodation entries. The appellant's share transactions were properly documented through recognized stock exchange via registered broker, with shares held in Demat account. Section 10(38) conditions were satisfied as companies weren't marked as shell companies by SEBI at transaction time. Revenue authorities failed to rebut documentary evidence. Additionally, denial of natural justice occurred as assessee wasn't given opportunity to cross-examine third parties allegedly providing accommodation entries, violating principles established in Andaman Timber Industries case. CIT(A)'s deletion of additions under sections 68 and 69C was upheld. en-us Fri, 05 Jan 2024 00:00:00 +0530 Tue, 15 Oct 2024 20:00:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458214 ITAT Jodhpur ruled in favor of assessee regarding unexplained credit under section 68 and bogus LTCG accommodation entries. The appellant's share transactions were properly documented through recognized stock exchange via registered broker, with shares held in Demat account. Section 10(38) conditions were satisfied as companies weren't marked as shell companies by SEBI at transaction time. Revenue authorities failed to rebut documentary evidence. Additionally, denial of natural justice occurred as assessee wasn't given opportunity to cross-examine third parties allegedly providing accommodation entries, violating principles established in Andaman Timber Industries case. CIT(A)'s deletion of additions under sections 68 and 69C was upheld. Case-Laws Income Tax Fri, 05 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458214