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2019 (9) TMI 1060 - AT - Income TaxBogus LTCG - unexplained cash credits u/s 68 - HELD THAT:- There is no dispute above assessees having derived the impugned LTCG on transfer of shares held in Sulabh Engineering and Services Ltd. Learned Departmental Representative fails to dispute that very issue stands adjudicated in assessee’s favour in SANJEEV GOEL (HUF) VERSUS INCOME TAX OFFICER, WARD-45 (3) , KOLKATA [2018 (8) TMI 1747 - ITAT KOLKATA]. Transactions in scrips supported by the corresponding relevant evidence to be genuine. We adopt the above extracted learned co-ordinate benches’ detailed reasoning taking into consideration of various decisions of hon'ble jurisdictional high court (supra) to conclude the lower authorities have erred in law and on facts in treating assessee’s LTCG in issue as unexplained cash credits. The impugned addition is deleted therefore. commission disallowance / addition also follows suit.
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