https://www.taxtmi.com/caselaws?id=469748 Reliance on a third-party statement to support addition for alleged bogus long-term capital gains was held unsustainable where the assessee was denied cross-examination. The reassessment rested principally on accommodation-entry statements, but using that material without giving the assessee an opportunity to test it breached natural justice. On that basis, the share transaction could not be treated as sham on the material relied upon by the Assessing Officer, and the addition was deleted. en-us Fri, 07 Jul 2017 00:00:00 +0530 Thu, 02 Jul 2026 17:29:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469748 Reliance on a third-party statement to support addition for alleged bogus long-term capital gains was held unsustainable where the assessee was denied cross-examination. The reassessment rested principally on accommodation-entry statements, but using that material without giving the assessee an opportunity to test it breached natural justice. On that basis, the share transaction could not be treated as sham on the material relied upon by the Assessing Officer, and the addition was deleted. Case-Laws Income Tax Fri, 07 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469748