https://www.taxtmi.com/caselaws?id=466120 Revisionary jurisdiction under challenge concerned alleged bogus long-term capital gains from share sales; ITAT observed that AO had raised specific queries, received detailed replies, and taken a plausible, bona fide view after verification, so the assessment was not erroneous or prejudicial and revisionary action was unsustainable. Reliance on jurisdictional High Court and ITAT precedents supporting genuineness of shares and accepted explanations reinforced that the AO committed no mistake. Matter decided for the taxpayer with revision order set aside. en-us Fri, 31 Jan 2025 00:00:00 +0530 Wed, 21 Jan 2026 09:58:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466120 Revisionary jurisdiction under challenge concerned alleged bogus long-term capital gains from share sales; ITAT observed that AO had raised specific queries, received detailed replies, and taken a plausible, bona fide view after verification, so the assessment was not erroneous or prejudicial and revisionary action was unsustainable. Reliance on jurisdictional High Court and ITAT precedents supporting genuineness of shares and accepted explanations reinforced that the AO committed no mistake. Matter decided for the taxpayer with revision order set aside. Case-Laws Income Tax Fri, 31 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466120