https://www.taxtmi.com/caselaws?id=769385 ITAT Mumbai upheld CIT(A)'s order deleting additions made under sections 68 and 69C regarding alleged bogus long-term capital gains in scrip price manipulation scheme. Assessment was reopened under section 147 based on Insight Portal information about accommodation entries through manipulated scrip. Revenue failed to prove assessee's involvement in bogus transactions or provide specific evidence of wrongdoing. ITAT found no merit in Revenue's contention that CIT(A) failed to conduct proper inquiry, as Revenue couldn't specify what inquiry was lacking. Appeal by Revenue dismissed. en-us Tue, 22 Apr 2025 00:00:00 +0530 Thu, 24 Apr 2025 09:14:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769385 ITAT Mumbai upheld CIT(A)'s order deleting additions made under sections 68 and 69C regarding alleged bogus long-term capital gains in scrip price manipulation scheme. Assessment was reopened under section 147 based on Insight Portal information about accommodation entries through manipulated scrip. Revenue failed to prove assessee's involvement in bogus transactions or provide specific evidence of wrongdoing. ITAT found no merit in Revenue's contention that CIT(A) failed to conduct proper inquiry, as Revenue couldn't specify what inquiry was lacking. Appeal by Revenue dismissed. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769385