https://www.taxtmi.com/caselaws?id=760484 The ITAT ruled in favor of the assessee on two key issues. First, regarding alleged bogus LTCG from share transactions, the tribunal found that since shares were sold through BSE with STT paid and no price manipulation allegations against the broker, treating LTCG as unexplained cash credit under section 68 was unjustified, especially given the seven-year holding period. The addition was deleted. Second, concerning salary income discrepancy, the tribunal confirmed CIT(A)'s finding that the AO's addition based on Form 26AS was factually incorrect, as the assessee had properly declared the complete salary amount of Rs. 4,05,000. Both grounds of appeal were allowed. en-us Thu, 17 Oct 2024 00:00:00 +0530 Tue, 22 Oct 2024 08:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760484 The ITAT ruled in favor of the assessee on two key issues. First, regarding alleged bogus LTCG from share transactions, the tribunal found that since shares were sold through BSE with STT paid and no price manipulation allegations against the broker, treating LTCG as unexplained cash credit under section 68 was unjustified, especially given the seven-year holding period. The addition was deleted. Second, concerning salary income discrepancy, the tribunal confirmed CIT(A)'s finding that the AO's addition based on Form 26AS was factually incorrect, as the assessee had properly declared the complete salary amount of Rs. 4,05,000. Both grounds of appeal were allowed. Case-Laws Income Tax Thu, 17 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760484