Capital Gain earn from sale of shares cannot be held as Bogus merely on basis of report unearthed in case of third parties: ITAT deletes  addition made u/s 68 of IT Act [Read Order]

Capital-Gain-Failure-to-prove-Existence-of-Firm-and-its-Succession-with-Company-ITAT-TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench while deleting the addition made under Section 68 of the Income Tax Act, 1961 held that  capital gain earned from sale of shares could not be held as bogus merely on the basis of a report unearthed in case of third parties. The assessee, Sejalben N. Vora…

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