https://www.taxtmi.com/caselaws?id=781151 ITAT MUMBAI upheld the CIT(A)'s deletion of additions for alleged bogus long-term capital gains and estimated commission income, finding the AO relied solely on an investigation report and uncorroborated statements without independent probing. The tribunal held there was no material linking the assessee to the alleged syndicate or proving share-price manipulation, SEBI took no adverse action, and the office-boy's statement lacked corroborative cash-trail evidence. Estimating commission on entire exchange sales or alleged cash handling was therefore unjustified and rightly disallowed by the CIT(A). en-us Fri, 04 Apr 2025 00:00:00 +0530 Wed, 12 Nov 2025 08:17:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781151 ITAT MUMBAI upheld the CIT(A)'s deletion of additions for alleged bogus long-term capital gains and estimated commission income, finding the AO relied solely on an investigation report and uncorroborated statements without independent probing. The tribunal held there was no material linking the assessee to the alleged syndicate or proving share-price manipulation, SEBI took no adverse action, and the office-boy's statement lacked corroborative cash-trail evidence. Estimating commission on entire exchange sales or alleged cash handling was therefore unjustified and rightly disallowed by the CIT(A). Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781151