No Addition can be made on Unexplained Cash Credit from Sale and Purchase of Shares: ITAT [Read Order]

Addition - can - be - made - on - Unexplained - Cash - Credit - Sale - and - Purchase - of - Shares - ITAT - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no addition can be made on unexplained cash credit from sale and purchase of shares. Assessee Naveen Kishor Mohnot derives income from salary, business, speculation income, capital gain and income from other sources. The Assessing Officer observed that during the present…

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