https://www.taxtmi.com/caselaws?id=768075 ITAT Delhi allowed the assessee's appeal against addition of unexplained cash credit under section 68 read with section 115BBE for alleged bogus LTCG. The tribunal held that where shares were purchased online through banking channels, dematerialized, and sale proceeds received through banking channels, the AO cannot make additions based on assumptions without confronting direct material against the assessee. The assessee provided sufficient documentary evidence including demat account records, broker statements, and bank statements proving transaction legitimacy. The addition was deleted as it was made solely on investigation reports not shared with the assessee. en-us Thu, 27 Mar 2025 00:00:00 +0530 Mon, 31 Mar 2025 08:41:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768075 ITAT Delhi allowed the assessee's appeal against addition of unexplained cash credit under section 68 read with section 115BBE for alleged bogus LTCG. The tribunal held that where shares were purchased online through banking channels, dematerialized, and sale proceeds received through banking channels, the AO cannot make additions based on assumptions without confronting direct material against the assessee. The assessee provided sufficient documentary evidence including demat account records, broker statements, and bank statements proving transaction legitimacy. The addition was deleted as it was made solely on investigation reports not shared with the assessee. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768075