https://www.taxtmi.com/caselaws?id=782419 ITAT Ahmedabad upheld the CIT(A)'s deletion of additions made on alleged bogus LTCG from shares of Kushal Ltd. The AO had treated the capital gains as unexplained credits under section 69 r.w.s. 115BBE, relying on abnormal price rise and third-party investigation reports to allege accommodation entries. The Tribunal noted that the assessee had furnished complete documentary evidence of genuine transactions and that the AO conducted no enquiry specific to the assessee. The assessee's sale prices were significantly below the peak market price, undermining the allegation of a pre-arranged exit. Suspicion alone was held insufficient to replace proof. The Revenue's appeal was dismissed. en-us Tue, 29 Jul 2025 00:00:00 +0530 Sat, 29 Nov 2025 07:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782419 ITAT Ahmedabad upheld the CIT(A)'s deletion of additions made on alleged bogus LTCG from shares of Kushal Ltd. The AO had treated the capital gains as unexplained credits under section 69 r.w.s. 115BBE, relying on abnormal price rise and third-party investigation reports to allege accommodation entries. The Tribunal noted that the assessee had furnished complete documentary evidence of genuine transactions and that the AO conducted no enquiry specific to the assessee. The assessee's sale prices were significantly below the peak market price, undermining the allegation of a pre-arranged exit. Suspicion alone was held insufficient to replace proof. The Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 29 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782419