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2017 (7) TMI 659 - AT - Income TaxDisallowing the loss on account of sale of shares of HCL Technologies Ltd - Held that:- The issue in favour of the assessee in the appeal filed against the original assessment order and original CIT(A)’s order and since no incriminating material was found during the course of search and the addition was made solely on the basis of the statement of the assessee, therefore, we hold that the CIT(A) was not justified in disallowing the loss on account of sale of shares of HCL Technologies Ltd. The grounds raised by the assessee are accordingly allowed.
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