https://www.taxtmi.com/caselaws?id=461043 ITAT Mumbai ruled in favor of the assessee in a section 153A assessment case. The tribunal held that no incriminating material was found during search operations for AY 2012-13 and 2013-14, following SC precedent in Abhisar Buildwell case. Additions under sections 68 and 69C regarding alleged bogus long-term and short-term capital gains were deleted. The assessee had provided supporting documents for share transactions that were not found to be false or fabricated. The AO's reliance on third-party statements without evidence of the assessee's participation in price rigging was deemed insufficient to sustain the additions. en-us Fri, 30 Jun 2023 00:00:00 +0530 Sat, 08 Mar 2025 10:08:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461043 ITAT Mumbai ruled in favor of the assessee in a section 153A assessment case. The tribunal held that no incriminating material was found during search operations for AY 2012-13 and 2013-14, following SC precedent in Abhisar Buildwell case. Additions under sections 68 and 69C regarding alleged bogus long-term and short-term capital gains were deleted. The assessee had provided supporting documents for share transactions that were not found to be false or fabricated. The AO's reliance on third-party statements without evidence of the assessee's participation in price rigging was deemed insufficient to sustain the additions. Case-Laws Income Tax Fri, 30 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461043