Addition under s.68 deleted as assessment lacked independent inquiry; short-term gains tax already paid and set aside

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....ITAT allowed the appeal and directed deletion of the addition framed under s. 68. The Tribunal found the addition devoid of merit, observing that the Assessing Officer and the ld. CIT(A) merely reproduced the assessment order without independent application of mind or meaningful inquiry; none of the decisions relied upon by the assessee were distinguished in the appellate order. The assessee had disclosed substantial short-term capital gains and discharged tax of Rs. 6,28,059. On both factual and legal grounds the ITAT concluded the addition could not be sustained and set aside the assessment-stage addition, directing the AO to delete the disputed s. 68 imputation.....