ITAT was of the opinion that a grave error was committed by the AO in denying the opportunity of cross-examination by the assessee and deleted the addition made by the AO
In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the additions related to alleged bogus Long-Term Capital Gains (LTCG) due to procedural lapses and denial of cross-examination rights to the assessee. In this case, the assessee, Shobit Gupta, challenged the orders of the Commissioner of Income Tax…
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