https://www.taxtmi.com/caselaws?id=775166 ITAT Ahmedabad ruled in favor of the assessee regarding unexplained investment allegations concerning bogus share transactions. The assessee purchased shares of Diamant Infrastructure Ltd. in 2002 and sold them in 2011 for Rs. 1,99,350. The tribunal found sufficient evidence supporting both the purchase and sale transactions. Company records filed with RoC showed the assessee as a legitimate shareholder holding 200 shares under Folio No. 2691 since August 18, 2002. The Revenue failed to produce tangible evidence demonstrating the assessee's involvement in any bogus transactions dating back to 2002. Consequently, ITAT deleted the addition made by the Assessing Officer, holding that the share transactions were genuine and properly documented. en-us Fri, 18 Jul 2025 00:00:00 +0530 Mon, 21 Jul 2025 08:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775166 ITAT Ahmedabad ruled in favor of the assessee regarding unexplained investment allegations concerning bogus share transactions. The assessee purchased shares of Diamant Infrastructure Ltd. in 2002 and sold them in 2011 for Rs. 1,99,350. The tribunal found sufficient evidence supporting both the purchase and sale transactions. Company records filed with RoC showed the assessee as a legitimate shareholder holding 200 shares under Folio No. 2691 since August 18, 2002. The Revenue failed to produce tangible evidence demonstrating the assessee's involvement in any bogus transactions dating back to 2002. Consequently, ITAT deleted the addition made by the Assessing Officer, holding that the share transactions were genuine and properly documented. Case-Laws Income Tax Fri, 18 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775166