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2021 (9) TMI 1123 - AT - Income TaxShort term capital gain addition on protective basis - Real beneficiary under Prohibition of Benami Transaction - HELD THAT:- We find no merit in the Revenue's instant sole substantive grievance seeking to revive the impugned protective addition in the assessee's hands due to the clinching reason that the prescribed Adjudicating Authority u/s. 71 of the Prohibition of Benami Transaction Act, 1988's order dt. 19-12-2017 has already given a conclusive finding of the fact that the real beneficiary herein is one Smt. Renuka Datla only. We thus uphold the learned CIT(A)'s action deleting the impugned addition(s) for this precise reason alone as there is no basis left for assessing the sum in issue in assessee's hands on protective basis. - Decided against revenue.
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