https://www.taxtmi.com/caselaws?id=776120 HC held that the tribunal erred in deleting the addition related to share trading, as it failed to examine the merits or correctness of the assessing officer's and CIT(A)'s reasoning, relying instead on a decision with only "substantially similar" facts. The court distinguished the present case from a recent decision disposed of on low tax effect, finding that the current matter falls within an exception under Circular No. 5 of 2024. Consequently, the HC set aside the tribunal's order and restored the appellate authority's and assessing officer's decision, ruling in favor of the revenue. en-us Fri, 01 Aug 2025 00:00:00 +0530 Tue, 05 Aug 2025 07:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776120 HC held that the tribunal erred in deleting the addition related to share trading, as it failed to examine the merits or correctness of the assessing officer's and CIT(A)'s reasoning, relying instead on a decision with only "substantially similar" facts. The court distinguished the present case from a recent decision disposed of on low tax effect, finding that the current matter falls within an exception under Circular No. 5 of 2024. Consequently, the HC set aside the tribunal's order and restored the appellate authority's and assessing officer's decision, ruling in favor of the revenue. Case-Laws Income Tax Fri, 01 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776120