https://www.taxtmi.com/caselaws?id=460500 ITAT Delhi dismissed Revenue's appeal regarding long-term capital gains on share sales. The tribunal held that documents found during survey did not support AO's case for cash component addition, as contents didn't match actual transactions. Survey statements have no evidentiary value and purchasers' uncontroverted affidavits supported assessee's claim. Revenue failed to discharge burden of proof. Additionally, reassessment order was passed by non-jurisdictional officer without proper transfer order u/s 127, making it invalid. Notice u/s 143(2) was issued beyond statutory period, rendering assessment bad in law per Hotel Blue Moon precedent. en-us Wed, 23 Dec 2015 00:00:00 +0530 Fri, 04 Jul 2025 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460500 ITAT Delhi dismissed Revenue's appeal regarding long-term capital gains on share sales. The tribunal held that documents found during survey did not support AO's case for cash component addition, as contents didn't match actual transactions. Survey statements have no evidentiary value and purchasers' uncontroverted affidavits supported assessee's claim. Revenue failed to discharge burden of proof. Additionally, reassessment order was passed by non-jurisdictional officer without proper transfer order u/s 127, making it invalid. Notice u/s 143(2) was issued beyond statutory period, rendering assessment bad in law per Hotel Blue Moon precedent. Case-Laws Income Tax Wed, 23 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460500