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2018 (12) TMI 520 - AT - Income TaxCash credits u/s 68 - bogus long term capital gain - exemption u/s 10(38) - Held that:- Taking into consideration the facts and circumstances of the case and the judicial decisions cited, as find that the issue for consideration is squarely covered by the orders of the Bengaluru ITAT in the cases of Arvind Kumar Moolchand [2017 (5) TMI 1643 - ITAT BANGALORE] and Pukhraj Hasmuchlal [2018 (1) TMI 1406 - ITAT BANGALORE] - set aside the orders of the AO and restore the matter of treatment of sale proceeds declared on sale of shares as unexplained credits u/s 68 of the Act to the file of the AO to re-adjudicate the issue afresh; after making available to the assessee for her rebuttal all documents relied upon by Revenue for making the additions/disallowance and providing adequate opportunity to the assessee for cross-examination of persons whose statements are being relied upon. Assessee’s appeal allowed for statistical purposes.
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