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2024 (4) TMI 588 - AT - Income TaxDelay in filling appeals - delays of 160 days in filing present appeal - HELD THAT:- The assessee is not likely to get any benefit in filing the appeals belatedly, rather there is always chance that such delay not be condoned. Considering the submission of Ld. AR for the assessee, wherein he has fairly accepted that he could not logged on the ITBA portal due to frequent changing in password by regular CA of assessee. We find that assessee has reasonably explained the cause of delay of 160 days, hence, the delay in the appeal is condoned. Bogus LTCG on listed company’s shares - Addition u/s 68 - disallowance of appellant’s claim of exempt income u/s 10(38) - HELD THAT:- We find that fact of the present case is identical to the facts in [2024 (4) TMI 529 - ITAT SURAT] wherein held as the assessee proved genuineness of sale transaction by bringing on record contract notes of sale and purchase, bank statement of broker and demat account showing transfer in and out of shares, Assessing Officer was not justified in bringing to tax capital gain arising from sale of shares as unexplained cash credit. Thus, addition of undisclosed income under section 68 is deleted. In the result, the ground of appeal raised by the assessee is allowed.
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