Failure to establish element of Bogus Sale of Shares as Unexplained with respect to LTCG on Shares: ITAT deletes addition [Read Order]

ITAT - ITAT Ahmedabad - Income Tax - Sale of Shares - TAXSCAN

The Ahmedabad bench of Income Tax Appellate Tribunal ( ITAT ) while deleting the addition made by the assessing officer the two member bench held that the revenue authority failed The assessee Bharatkumar Gangaram Patel, after filing the return of income assessee case was selected for scrutiny. The Reason for scrutiny selection is “Suspicious Long Term Capital…

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