https://www.taxtmi.com/caselaws?id=462240 ITAT Mumbai allowed the assessee's appeal against reopening of assessment for bogus LTCG. The AO based allegations solely on Investigating Authority's report without independent inquiry or providing opportunity to cross-examine persons whose statements were used. The assessee sold shares in staggered manner during December 2014 to February 2015, and SEBI had withdrawn suspension by November 2016. AO failed to consider assessee's request for relied-upon documents. Lacking specific supporting evidence, ITAT quashed additions and set aside appellate order. en-us Mon, 24 Mar 2025 00:00:00 +0530 Tue, 03 Jun 2025 19:32:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462240 ITAT Mumbai allowed the assessee's appeal against reopening of assessment for bogus LTCG. The AO based allegations solely on Investigating Authority's report without independent inquiry or providing opportunity to cross-examine persons whose statements were used. The assessee sold shares in staggered manner during December 2014 to February 2015, and SEBI had withdrawn suspension by November 2016. AO failed to consider assessee's request for relied-upon documents. Lacking specific supporting evidence, ITAT quashed additions and set aside appellate order. Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462240