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2021 (12) TMI 1211 - ITAT AHMEDABADBogus LTCG - undisclosed income u/s. 69 - HELD THAT:- The factual contentions of the assessee, vis-à-vis the addition made on account of alleged bogus Long Term Capital Gain pertaining to the investment made in the securities therein as detailed in the reasons recorded for reopening the case of the assessee as reproduced was never considered either by the A.O. or the Ld. CIT(A). This despite the fact that the assessee had filed all documents before them in support of its contention that it had never claimed any Long Term Capital Gain or for that matter the impugned investment did not relate to it at all. We are of the view that the issue needs to be reconsidered and decided in the light of the factual contentions made by the assessee after duly verifying the same. The issue is therefore restored back to the A.O. to consider both the factual contentions of the assessee as stated above regarding no claim of any Long Term Capital Gain made by it nor any such investment ,as stated in the reasons recorded ,being made. The A.O. is directed to verify the claim of the assessee and thereafter adjudicate the issue in accordance with law. . Appeal of the assessee is therefore allowed for statistical purpose.
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