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2016 (8) TMI 1218 - AT - Income TaxDisallowance loss suffered - Held that:- Explanation of the assessee is supported by the chart produced before the authorities below and supported by the details signed by the assessee and Shri Gurmukh Singh. There was thus, no reason to disbelieve the loss suffered by the assessee on the last transaction on account of the amount in question not returned by Shri Gurmukh Singh to the assessee, who has, later on, expired before passing of the assessment order. We, therefore, do not find any justification to sustain the assessee. We set aside the orders of authorities below and delete the addition.
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