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2011 (9) TMI 1047 - AT - Income TaxAddition u/s 68 - unexplained cash credit - Held that:- The assessee explained genuine transactions on sales and purchases of the shares. The sources of sale of shares are explained through evidences and materials on record. Considering the facts and circumstances of the case in the light of the above decisions and evidences on record, we are of the view that the authorities below have wrongly made the addition u/s 68 of the IT Act. The transactions declared by the assessee shall have to be accepted by the revenue authorities for capital gains. Orders of the authorities below are accordingly set aside and the addition is deleted.
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