https://www.taxtmi.com/caselaws?id=777477 ITAT (Mumbai) set aside the AO/CIT(A) findings and directed allowance of the claimed short-term capital loss, finding no evidence of price-rigging or defects in the assessee's documentation. The tribunal also held the AO's adhoc 3% commission disallowance on alleged bogus share transactions unjustified. An addition under section 68 was rejected: the assessee's loan documentation and source-of-fund evidence from a third-party lender were found genuine and the AO produced no contrary material to disprove the loan. en-us Thu, 09 Jan 2025 00:00:00 +0530 Sat, 30 Aug 2025 08:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777477 ITAT (Mumbai) set aside the AO/CIT(A) findings and directed allowance of the claimed short-term capital loss, finding no evidence of price-rigging or defects in the assessee's documentation. The tribunal also held the AO's adhoc 3% commission disallowance on alleged bogus share transactions unjustified. An addition under section 68 was rejected: the assessee's loan documentation and source-of-fund evidence from a third-party lender were found genuine and the AO produced no contrary material to disprove the loan. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777477